Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 07, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Goldman Sachs Private Credit Corp. | |
Entity Central Index Key | 0001920145 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity File Number | 814-01627 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 92-3241797 | |
Entity Address, Address Line One | 200 West Street | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10282 | |
City Area Code | 312 | |
Local Phone Number | 655 - 4419 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Common Stock, Shares Outstanding | 48,471,896 |
Consolidated Statements of Asse
Consolidated Statements of Assets and Liabilities - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Investments, at fair value | ||
Investment Owned, Fair Value | $ 1,197,616 | |
Investments in affiliated money market fund (cost of $79,674 and $-) | 79,674 | |
Cash | 102,262 | $ 1 |
Deferred financing costs | 6,826 | |
Interest and dividends receivable | 5,631 | |
Deferred offering costs | 1,303 | |
Receivable from investment adviser | 157 | |
Other assets | 128 | |
Total assets | 1,393,597 | 1 |
Liabilities | ||
Debt | 238,537 | |
Payable for investments purchased | 60,524 | |
Distribution payable | 8,998 | |
Interest and other debt expenses payable | 1,031 | |
Incentive fees based on capital gains payable | 392 | |
Directors' fees payable | 83 | |
Accrued expenses and other liabilities | 2,824 | |
Total liabilities | 312,389 | |
Commitments and contingencies (Note 7) | ||
Net assets | ||
Preferred stock, par value $0.001 per share (1,000,000 shares authorized, 0 shares issued and outstanding as of September 30, 2023 and 0 shares issued and outstanding as of December 31, 2022) | 0 | |
Common stock, par value $0.001 per share (1,000,000,000 shares authorized, 42,847,652 common shares issued and outstanding as of September 30, 2023). Common units (40 units issued and outstanding as of December 31, 2022) | 43 | 1 |
Paid-in capital in excess of par | 1,077,630 | |
Distributable earnings (loss) | 3,535 | |
Total net assets | 1,081,208 | 1 |
Total liabilities and net assets | $ 1,393,597 | $ 1 |
Net asset value per common share and common unit as of September 30, 2023 and December 31,2022 | $ 25.23 | $ 25 |
Non-Controlled/Non-Affiliated Investments | ||
Investments, at fair value | ||
Investment Owned, Fair Value | $ 1,197,616 |
Consolidated Statements of As_2
Consolidated Statements of Assets and Liabilities (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Investments, at cost | $ 1,197,315 | ||
Investments in affiliated money market fund at cost | $ 79,674 | ||
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | |
Preferred stock, shares issued | 0 | 0 | |
Preferred stock, shares outstanding | 0 | 0 | |
Common stock, par value | $ 0.001 | $ 0.001 | |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | |
Common stock, shares issued | 42,847,652 | 40 | |
Common stock, shares outstanding | 42,847,652 | [1] | 40 |
Non-Controlled/Non-Affiliated Investments | |||
Investments, at cost | $ 1,197,315 | ||
[1] The per share data was derived by using the weighted average Shares outstanding during the applicable period that the Shares were outstanding, except for distributions declared, which reflects the actual amount per Share for the applicable period. |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | ||
Net Investment Income [Line Items] | |||||
Total investment income | $ 25,306 | $ 37,647 | |||
Expenses: | |||||
Interest and other debt expenses | 2,354 | 4,703 | |||
Management fees | 2,680 | 3,726 | |||
Incentive fees based on income | 2,296 | 3,086 | |||
Incentive fees based on capital gains | 92 | 392 | |||
Offering costs by investment adviser | 577 | 1,042 | |||
Professional fees | 547 | 826 | |||
Organization costs | 127 | $ 224 | $ 591 | 519 | |
Costs related to Directors and Officers Liability Insurance, and directors fees | 85 | 81 | 133 | 245 | |
Other general and administrative expenses | 655 | 1,037 | |||
Total expenses | 9,413 | 305 | 724 | 15,576 | |
Fee waivers | (4,976) | (6,812) | |||
Expense support | (1,152) | $ (305) | $ (724) | (3,547) | |
Reimbursable expenses previously borne by Investment Adviser | 0 | 1,512 | |||
Net expenses | 3,285 | 6,729 | |||
Net investment income | 22,021 | 30,918 | |||
Net realized gain (loss) from: | |||||
Non-controlled/non-affiliated investments | (5) | (3) | |||
Foreign currency transactions | 91 | 84 | |||
Warehouse transaction | 0 | 2,617 | |||
Net change in unrealized appreciation (depreciation) from: | |||||
Non-controlled/non-affiliated investments | (354) | 301 | |||
Non-controlled affiliated investments | 0 | 0 | |||
Foreign currency translations | 1,009 | 140 | |||
Net realized and unrealized gains | 741 | 3,139 | |||
Net increase in net assets from operations | 22,762 | $ 34,057 | |||
Weighted average common shares outstanding | [1] | 24,905,773 | |||
Common Class I [Member] | |||||
Net change in unrealized appreciation (depreciation) from: | |||||
Net increase in net assets from operations | $ 22,762 | $ 34,057 | |||
Weighted average common shares outstanding | 34,868,960 | 24,905,773 | |||
Net investment income per common share, basic | $ 0.63 | $ 1.24 | |||
Net investment income per common share, diluted | 0.63 | 1.24 | |||
Earnings per common share basic | 0.65 | 1.37 | |||
Earnings per common share diluted | $ 0.65 | $ 1.37 | |||
From Non-controlled/ Non-affiliated Investments | |||||
Net Investment Income [Line Items] | |||||
Interest income | $ 22,325 | $ 34,263 | |||
Other income | 540 | 646 | |||
From Non-controlled Affiliated Investments | |||||
Net Investment Income [Line Items] | |||||
Dividend income | $ 2,441 | $ 2,738 | |||
[1] The per share data was derived by using the weighted average Shares outstanding during the applicable period that the Shares were outstanding, except for distributions declared, which reflects the actual amount per Share for the applicable period. |
Consolidated Statements of Chan
Consolidated Statements of Changes in Net Assets (Unaudited) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 USD ($) $ / shares | Sep. 30, 2023 USD ($) $ / shares | |
Statement of Partners' Capital [Abstract] | ||
Net assets at beginning of period | $ 476,500 | $ 1 |
Increase (decrease) in net assets from operations: | ||
Net investment income | 22,021 | 30,918 |
Net realized gain (loss) | 86 | 2,698 |
Net change in unrealized appreciation (depreciation) | 655 | 441 |
Net increase in net assets from operations | 22,762 | 34,057 |
Distributions to shareholders from: | ||
Distributable earnings to common shareholders | (22,021) | (30,492) |
Distributable earnings to preferred shareholders | (15) | (30) |
Total distributions to shareholders | (22,036) | (30,522) |
Capital transactions: | ||
Issuance of common shares | 596,999 | 1,068,496 |
Issuance of preferred shares | 515 | |
Redemption of preferred shares | (515) | (515) |
Reinvestment of common shareholder distributions | 7,498 | 9,176 |
Net increase in net assets from capital transactions | 603,982 | 1,077,672 |
Total increase in net assets | 604,708 | 1,081,207 |
Net assets at end of period | $ 1,081,208 | $ 1,081,208 |
Distributions per common share | $ / shares | $ 0.63 | $ 1.22 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 | |
Cash flows from operating activities: | |
Net increase in net assets from operations | $ 34,057 |
Adjustments to reconcile net increase (decrease) in net assets from operations to net cash provided by (used for) operating activities: | |
Purchases of investments | (1,201,316) |
Payment-in- kind interest capitalized | (645) |
Investments in affiliated money market fund, net | (79,674) |
Proceeds from sales of investments and principal repayments | 5,789 |
Net realized (gain) loss on investments | 3 |
Net change in unrealized (appreciation) depreciation on investments | (301) |
Net change in unrealized (appreciation) depreciation on foreign currency translation | 14 |
Amortization of premium and accretion of discount, net | (1,146) |
Amortization of deferred financing costs | 596 |
Amortization of deferred offering costs | 1,042 |
Change in operating assets and liabilities: | |
(Increase) decrease in interest and dividends receivable | (5,631) |
(Increase) decrease in receivable from investment adviser | (157) |
(Increase) decrease in other assets | (128) |
Increase (decrease) in interest and other debt expenses payable | 888 |
Increase (decrease) in incentive fees based on capital gains payable | (392) |
Increase (decrease) in payable for investments purchased | 60,524 |
Increase (decrease) in directors' fees payable | 83 |
Increase (decrease) in accrued expenses and other liabilities | 1,720 |
Net cash provided by (used for) operating activities | (1,183,890) |
Cash flows from financing activities: | |
Proceeds from issuance of common shares | 1,068,496 |
Proceeds from issuance of preferred shares | 515 |
Redemption of preferred shares | (515) |
Offering costs paid | (1,241) |
Common stock distributions paid | (12,318) |
Preferred stock distributions paid | (30) |
Financing costs paid | (7,279) |
Borrowings on debt | 612,551 |
Repayments of debt | (374,014) |
Net cash provided by (used for) financing activities | 1,286,165 |
Net increase (decrease) in cash | 102,275 |
Effect of foreign exchange rate changes on cash and cash equivalents | (14) |
Cash, beginning of period | 1 |
Cash, end of period | 102,262 |
Supplemental and non-cash activities | |
Interest expense paid | 2,573 |
Accrued but unpaid distributions | 8,998 |
Reinvestment of common stockholder distributions | $ 9,176 |
Consolidated Schedule of Invest
Consolidated Schedule of Investments - Sep. 30, 2023 € in Thousands, $ in Thousands, $ in Thousands | USD ($) shares | EUR (€) shares | CAD ($) shares | |
Schedule Of Investments [Line Items] | ||||
Cost | $ 1,197,315 | |||
Fair Value | $ 1,197,616 | |||
Investment owned, percent of net assets | 110.80% | 110.80% | 110.80% | |
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche | ||||
Schedule Of Investments [Line Items] | ||||
Cost | [1],[2] | $ 54,419 | ||
Fair Value | [1],[2] | $ 54,405 | ||
Investment owned, percent of net assets | [1],[2],[3] | 5.03% | 5.03% | 5.03% |
Investment, Identifier [Axis]: 1st Lien/Senior Secured Debt | ||||
Schedule Of Investments [Line Items] | ||||
Investment owned, percent of net assets | [1],[3] | 103.88% | 103.88% | 103.88% |
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt | ||||
Schedule Of Investments [Line Items] | ||||
Cost | [1] | $ 20,006 | ||
Fair Value | [1] | $ 20,000 | ||
Investment owned, percent of net assets | [1],[3] | 1.85% | 1.85% | 1.85% |
Investment, Identifier [Axis]: First Lien/Senior Secured Debt | ||||
Schedule Of Investments [Line Items] | ||||
Cost | [1] | $ 1,122,890 | ||
Fair Value | [1] | $ 1,123,211 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (12) - 5.03% Thor FinanceCo LLC (dba Harmoni Towers) Industry Wireless Telecommunication Services Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 08/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[2],[4],[5] | 12.42% | 12.42% | 12.42% |
Reference Rate and Spread (+) | [1],[2],[4],[5] | 7% | 7% | 7% |
Maturity | [1],[2],[4] | Aug. 24, 2028 | Aug. 24, 2028 | Aug. 24, 2028 |
Par (++) | [1],[2],[4],[6] | $ 46,667 | ||
Cost | [1],[2],[4] | 46,089 | ||
Fair Value | [1],[2],[4] | $ 46,083 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (12) - 5.03% Thor FinanceCo LLC (dba Harmoni Towers) Industry Wireless Telecommunication Services Reference Rate and Spread S + 7.00% Maturity 08/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[2],[4],[5],[7] | 7% | 7% | 7% |
Maturity | [1],[2],[4],[7] | Aug. 24, 2028 | Aug. 24, 2028 | Aug. 24, 2028 |
Par (++) | [1],[2],[4],[6],[7] | $ 28,333 | ||
Cost | [1],[2],[4],[7] | (349) | ||
Fair Value | [1],[2],[4],[7] | $ (354) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (12) - 5.03% Towerco IV Holdings, LLC Industry Wireless Telecommunication Services Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[2],[4],[5],[7] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[2],[4],[5],[7] | 4% | 4% | 4% |
Maturity | [1],[2],[4],[7] | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 |
Par (++) | [1],[2],[4],[6],[7] | $ 19,000 | ||
Cost | [1],[2],[4],[7] | 8,679 | ||
Fair Value | [1],[2],[4],[7] | $ 8,676 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% ADS Tactical, Inc. Industry Aerospace & Defense Reference Rate and Spread S + 5.75% Maturity 03/19/26 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 5.75% | 5.75% | 5.75% |
Maturity | [1],[8] | Mar. 19, 2026 | Mar. 19, 2026 | Mar. 19, 2026 |
Par (++) | [1],[6],[8] | $ 1,303 | ||
Cost | [1],[8] | 1,270 | ||
Fair Value | [1],[8] | $ 1,276 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AI Aqua Merger Sub, Inc. Industry Household Durables Interest Rate 9.08% Reference Rate and Spread S + 3.75% Maturity 07/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.08% | 9.08% | 9.08% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Jul. 31, 2028 | Jul. 31, 2028 | Jul. 31, 2028 |
Par (++) | [1],[6] | $ 323 | ||
Cost | [1] | 318 | ||
Fair Value | [1] | $ 320 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AL GCX Holdings, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.50% Maturity 05/17/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | May 17, 2029 | May 17, 2029 | May 17, 2029 |
Par (++) | [1],[6],[8] | $ 2,133 | ||
Cost | [1],[8] | 2,133 | ||
Fair Value | [1],[8] | $ 2,133 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AL NGPL Holdings, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.75% Maturity 04/13/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Apr. 13, 2028 | Apr. 13, 2028 | Apr. 13, 2028 |
Par (++) | [1],[6],[8] | $ 3,968 | ||
Cost | [1],[8] | 3,975 | ||
Fair Value | [1],[8] | $ 3,970 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Acrisure, LLC Industry Insurance Interest Rate 8.93% Reference Rate and Spread L + 3.50% Maturity 02/15/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.93% | 8.93% | 8.93% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Feb. 15, 2027 | Feb. 15, 2027 | Feb. 15, 2027 |
Par (++) | [1],[6] | $ 2,642 | ||
Cost | [1] | 2,575 | ||
Fair Value | [1] | $ 2,601 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ahead DB Holdings, LLC Industry Technology Hardware & Equipment Interest Rate 9.24% Reference Rate and Spread S + 3.75% Maturity 10/18/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.24% | 9.24% | 9.24% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Oct. 18, 2027 | Oct. 18, 2027 | Oct. 18, 2027 |
Par (++) | [1],[6] | $ 3,267 | ||
Cost | [1] | 3,154 | ||
Fair Value | [1] | $ 3,234 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Albaugh, LLC Industry Chemicals Reference Rate and Spread S + 3.75% Maturity 04/06/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Apr. 06, 2029 | Apr. 06, 2029 | Apr. 06, 2029 |
Par (++) | [1],[6],[8] | $ 4,763 | ||
Cost | [1],[8] | 4,731 | ||
Fair Value | [1],[8] | $ 4,632 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AlixPartners, LLP Industry Commercial Services & Supplies Reference Rate and Spread S + 2.75% Maturity 02/04/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2.75% | 2.75% | 2.75% |
Maturity | [1],[8] | Feb. 04, 2028 | Feb. 04, 2028 | Feb. 04, 2028 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,643 | ||
Fair Value | [1],[8] | $ 2,638 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AllSpring Buyer, LLC Industry Diversified Financial Services Reference Rate and Spread S + 3.25% Maturity 11/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.25% | 3.25% | 3.25% |
Maturity | [1],[8] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 |
Par (++) | [1],[6],[8] | $ 1,695 | ||
Cost | [1],[8] | 1,684 | ||
Fair Value | [1],[8] | $ 1,676 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Alliant Holdings Intermediate, LLC Industry Insurance Reference Rate and Spread L + 3.50% Maturity 11/05/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Nov. 05, 2027 | Nov. 05, 2027 | Nov. 05, 2027 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,640 | ||
Fair Value | [1],[8] | $ 2,635 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Allied Universal Holdco LLC Industry Commercial Services & Supplies Interest Rate 9.17% Reference Rate and Spread S + 3.75% Maturity 05/12/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.17% | 9.17% | 9.17% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | May 12, 2028 | May 12, 2028 | May 12, 2028 |
Par (++) | [1],[6] | $ 2,145 | ||
Cost | [1] | 2,071 | ||
Fair Value | [1] | $ 2,068 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Altar Bidco, Inc. Industry Semiconductors & Semiconductor Equipment Reference Rate and Spread S + 3.10% Maturity 02/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.10% | 3.10% | 3.10% |
Maturity | [1],[8] | Feb. 01, 2029 | Feb. 01, 2029 | Feb. 01, 2029 |
Par (++) | [1],[6],[8] | $ 1,321 | ||
Cost | [1],[8] | 1,313 | ||
Fair Value | [1],[8] | $ 1,315 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Alterra Mountain Company Industry Leisure Products Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 08/17/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.93% | 8.93% | 8.93% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 |
Par (++) | [1],[6] | $ 1,072 | ||
Cost | [1] | 1,074 | ||
Fair Value | [1] | $ 1,068 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Amentum Government Services Holdings LLC Industry Technology Hardware & Equipment Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 01/29/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Jan. 29, 2027 | Jan. 29, 2027 | Jan. 29, 2027 |
Par (++) | [1],[6] | $ 1,072 | ||
Cost | [1] | 1,058 | ||
Fair Value | [1] | $ 1,062 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% American Builders & Contractors Supply Co., Inc. Industry Distributors Interest Rate7.42% Reference Rate and Spread S + 2.00% Maturity 01/15/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 7.42% | 7.42% | 7.42% |
Reference Rate and Spread (+) | [1],[5] | 2% | 2% | 2% |
Maturity | [1] | Jan. 15, 2027 | Jan. 15, 2027 | Jan. 15, 2027 |
Par (++) | [1],[6] | $ 3,863 | ||
Cost | [1] | 3,861 | ||
Fair Value | [1] | $ 3,855 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ankura Consulting Group, LLC Industry Commercial Services & Supplies Interest Rate 9.93% Reference Rate and Spread S + 4.50% Maturity 03/17/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.93% | 9.93% | 9.93% |
Reference Rate and Spread (+) | [1],[5] | 4.50% | 4.50% | 4.50% |
Maturity | [1] | Mar. 17, 2028 | Mar. 17, 2028 | Mar. 17, 2028 |
Par (++) | [1],[6] | $ 473 | ||
Cost | [1] | 465 | ||
Fair Value | [1] | $ 470 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arcis Golf, LLC Industry Leisure Products Interest Rate 9.68% Reference Rate and Spread S + 4.25% Maturity 11/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.68% | 9.68% | 9.68% |
Reference Rate and Spread (+) | [1],[5] | 4.25% | 4.25% | 4.25% |
Maturity | [1] | Nov. 24, 2028 | Nov. 24, 2028 | Nov. 24, 2028 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 225 | ||
Fair Value | [1] | $ 224 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Interest Rate 11.90% Reference Rate and Spread S + 6.50% Maturity 06/28/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5],[9] | 11.90% | 11.90% | 11.90% |
Reference Rate and Spread (+) | [1],[4],[5],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[4],[9] | Jun. 28, 2030 | Jun. 28, 2030 | Jun. 28, 2030 |
Par (++) | [1],[4],[6],[9] | $ 8,825 | ||
Cost | [1],[4],[9] | 8,610 | ||
Fair Value | [1],[4],[9] | $ 8,649 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Reference Rate and Spread S + 6.50% Maturity 06/28/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[4],[7],[9] | Jun. 28, 2030 | Jun. 28, 2030 | Jun. 28, 2030 |
Par (++) | [1],[4],[6],[7],[9] | $ 2,037 | ||
Cost | [1],[4],[7],[9] | (25) | ||
Fair Value | [1],[4],[7],[9] | $ (41) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arsenal AIC Parent LLC Industry Metals & Mining Interest Rate 9.88% Reference Rate and Spread S + 4.50% Maturity 08/18/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.88% | 9.88% | 9.88% |
Reference Rate and Spread (+) | [1],[5] | 4.50% | 4.50% | 4.50% |
Maturity | [1] | Aug. 18, 2030 | Aug. 18, 2030 | Aug. 18, 2030 |
Par (++) | [1],[6] | $ 1,325 | ||
Cost | [1] | 1,322 | ||
Fair Value | [1] | $ 1,321 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ascend Performance Materials Operations, LLC Industry Chemicals Interest Rate 10.32% Reference Rate and Spread S + 4.75% Maturity 08/27/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.32% | 10.32% | 10.32% |
Reference Rate and Spread (+) | [1],[5] | 4.75% | 4.75% | 4.75% |
Maturity | [1] | Aug. 27, 2026 | Aug. 27, 2026 | Aug. 27, 2026 |
Par (++) | [1],[6] | $ 2,965 | ||
Cost | [1] | 2,912 | ||
Fair Value | [1] | $ 2,896 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AssuredPartners, Inc. Industry Insurance Reference Rate and Spread S + 3.50% Maturity 02/12/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Feb. 12, 2027 | Feb. 12, 2027 | Feb. 12, 2027 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,631 | ||
Fair Value | [1],[8] | $ 2,633 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Asurion LLC Industry Insurance Interest Rate 9.67% Reference Rate and Spread S + 4.25% Maturity 08/19/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.67% | 9.67% | 9.67% |
Reference Rate and Spread (+) | [1],[5] | 4.25% | 4.25% | 4.25% |
Maturity | [1] | Aug. 19, 2028 | Aug. 19, 2028 | Aug. 19, 2028 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 474 | ||
Fair Value | [1] | $ 460 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Autokiniton US Holdings, Inc. Industry Automobile Components Reference Rate and Spread S + 4.50% Maturity 04/06/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.50% | 4.50% | 4.50% |
Maturity | [1],[8] | Apr. 06, 2028 | Apr. 06, 2028 | Apr. 06, 2028 |
Par (++) | [1],[6],[8] | $ 2,143 | ||
Cost | [1],[8] | 2,141 | ||
Fair Value | [1],[8] | $ 2,096 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% BBB Industries LLC Industry Automobile Components Interest Rate10.67% Reference Rate and Spread S + 5.25% Maturity 07/25/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.67% | 10.67% | 10.67% |
Reference Rate and Spread (+) | [1],[5] | 5.25% | 5.25% | 5.25% |
Maturity | [1] | Jul. 25, 2029 | Jul. 25, 2029 | Jul. 25, 2029 |
Par (++) | [1],[6] | $ 1,072 | ||
Cost | [1] | 1,023 | ||
Fair Value | [1] | $ 1,009 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% BCPE Empire Holdings, Inc. Industry Distributors Interest Rate 10.07% Reference Rate and Spread S + 4.75% Maturity 12/11/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.07% | 10.07% | 10.07% |
Reference Rate and Spread (+) | [1],[5] | 4.75% | 4.75% | 4.75% |
Maturity | [1] | Dec. 11, 2028 | Dec. 11, 2028 | Dec. 11, 2028 |
Par (++) | [1],[6] | $ 449 | ||
Cost | [1] | 447 | ||
Fair Value | [1] | $ 448 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Interest Rate 11.32% Reference Rate and Spread S + 6.00% Maturity 09/30/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 11.32% | 11.32% | 11.32% |
Reference Rate and Spread (+) | [1],[4],[5] | 6% | 6% | 6% |
Maturity | [1],[4] | Sep. 30, 2030 | Sep. 30, 2030 | Sep. 30, 2030 |
Par (++) | [1],[4],[6] | $ 23,483 | ||
Cost | [1],[4] | 22,779 | ||
Fair Value | [1],[4] | $ 22,779 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Interest Rate 9.86% Reference Rate and Spread E + 6.00% Maturity 09/30/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 9.86% | 9.86% | 9.86% |
Reference Rate and Spread (+) | [1],[4],[5] | 6% | 6% | 6% |
Maturity | [1],[4] | Sep. 30, 2030 | Sep. 30, 2030 | Sep. 30, 2030 |
Par (++) | € | [1],[4],[6] | € 14,611 | ||
Cost | [1],[4] | $ 14,983 | ||
Fair Value | [1],[4] | $ 14,984 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Reference Rate and Spread S + 6.00% Maturity 09/30/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6% | 6% | 6% |
Maturity | [1],[4],[7] | Sep. 30, 2030 | Sep. 30, 2030 | Sep. 30, 2030 |
Par (++) | [1],[4],[6],[7] | $ 3,669 | ||
Cost | [1],[4],[7] | (55) | ||
Fair Value | [1],[4],[7] | $ (55) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Reference Rate and Spread S + 6.00% Maturity 10/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6% | 6% | 6% |
Maturity | [1],[4],[7] | Oct. 01, 2029 | Oct. 01, 2029 | Oct. 01, 2029 |
Par (++) | [1],[4],[6],[7] | $ 4,892 | ||
Cost | [1],[4],[7] | (147) | ||
Fair Value | [1],[4],[7] | $ (147) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Banff Merger Sub Inc Industry Software Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 10/02/25 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.18% | 9.18% | 9.18% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Oct. 02, 2025 | Oct. 02, 2025 | Oct. 02, 2025 |
Par (++) | [1],[6] | $ 673 | ||
Cost | [1] | 674 | ||
Fair Value | [1] | $ 672 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bangl, LLC Industry Energy Equipment & Services Reference Rate and Spread S + 4.50% Maturity 02/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.50% | 4.50% | 4.50% |
Maturity | [1],[8] | Feb. 01, 2029 | Feb. 01, 2029 | Feb. 01, 2029 |
Par (++) | [1],[6],[8] | $ 1,075 | ||
Cost | [1],[8] | 1,056 | ||
Fair Value | [1],[8] | $ 1,065 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Barracuda Networks, Inc. Industry IT Services Interest Rate 9.87% Reference Rate and Spread S + 4.50% Maturity 08/15/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.87% | 9.87% | 9.87% |
Reference Rate and Spread (+) | [1],[5] | 4.50% | 4.50% | 4.50% |
Maturity | [1] | Aug. 15, 2029 | Aug. 15, 2029 | Aug. 15, 2029 |
Par (++) | [1],[6] | $ 2,145 | ||
Cost | [1] | 2,098 | ||
Fair Value | [1] | $ 2,121 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Brookfield WEC Holdings, Inc. Industry Machinery Interest Rate 8.18% Reference Rate and Spread S+ 2.75% Maturity 08/01/25 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.18% | 8.18% | 8.18% |
Reference Rate and Spread (+) | [1],[5] | 2.75% | 2.75% | 2.75% |
Maturity | [1] | Aug. 01, 2025 | Aug. 01, 2025 | Aug. 01, 2025 |
Par (++) | [1],[6] | $ 2,642 | ||
Cost | [1] | 2,644 | ||
Fair Value | [1] | $ 2,639 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Brown Group Holding, LLC Industry Construction & Engineering Interest Rate 9.12% Reference Rate and Spread S + 3.75% Maturity 07/02/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.12% | 9.12% | 9.12% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Jul. 02, 2029 | Jul. 02, 2029 | Jul. 02, 2029 |
Par (++) | [1],[6] | $ 2,642 | ||
Cost | [1] | 2,646 | ||
Fair Value | [1] | $ 2,638 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Buckeye Partners, L.P. Industry Oil, Gas & Consumable Fuels Interest Rate 7.67% Reference Rate and Spread S + 2.25% Maturity 11/01/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 7.67% | 7.67% | 7.67% |
Reference Rate and Spread (+) | [1],[5] | 2.25% | 2.25% | 2.25% |
Maturity | [1] | Nov. 01, 2026 | Nov. 01, 2026 | Nov. 01, 2026 |
Par (++) | [1],[6] | $ 4,761 | ||
Cost | [1] | 4,756 | ||
Fair Value | [1] | $ 4,754 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CCI Buyer, Inc. Industry Telecommunications Reference Rate and Spread S + 4.00% Maturity 12/17/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4% | 4% | 4% |
Maturity | [1],[8] | Dec. 17, 2027 | Dec. 17, 2027 | Dec. 17, 2027 |
Par (++) | [1],[6],[8] | $ 1,471 | ||
Cost | [1],[8] | 1,455 | ||
Fair Value | [1],[8] | $ 1,450 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CMG Media Corporation Industry Media Interest Rate 8.99% Reference Rate and Spread S + 3.50% Maturity 12/17/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.99% | 8.99% | 8.99% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Dec. 17, 2026 | Dec. 17, 2026 | Dec. 17, 2026 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 435 | ||
Fair Value | [1] | $ 432 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CNT Holdings I Corp. Industry IT Services Reference Rate and Spread S + 3.50% Maturity 11/08/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Nov. 08, 2027 | Nov. 08, 2027 | Nov. 08, 2027 |
Par (++) | [1],[6],[8] | $ 2,143 | ||
Cost | [1],[8] | 2,140 | ||
Fair Value | [1],[8] | $ 2,135 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CQP Holdco LP. Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.50% Maturity 06/05/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Jun. 05, 2028 | Jun. 05, 2028 | Jun. 05, 2028 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,650 | ||
Fair Value | [1],[8] | $ 2,642 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CST Buyer Company (dba Intoxalock) Industry Diversified Consumer Services Interest Rate 11.92% Reference Rate and Spread S + 6.50% Maturity 11/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 11.92% | 11.92% | 11.92% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[9] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 |
Par (++) | [1],[6],[9] | $ 45,347 | ||
Cost | [1],[9] | 44,072 | ||
Fair Value | [1],[9] | $ 44,553 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CST Buyer Company (dba Intoxalock) Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 11/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[7],[9] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 |
Par (++) | [1],[6],[7],[9] | $ 4,310 | ||
Cost | [1],[7],[9] | (119) | ||
Fair Value | [1],[7],[9] | $ (75) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Calpine Corporation Industry Electric Utilities Reference Rate and Spread S + 2.00% Maturity 08/12/26 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2% | 2% | 2% |
Maturity | [1],[8] | Aug. 12, 2026 | Aug. 12, 2026 | Aug. 12, 2026 |
Par (++) | [1],[6],[8] | $ 4,761 | ||
Cost | [1],[8] | 4,763 | ||
Fair Value | [1],[8] | $ 4,756 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Canister International Group, Inc. Industry Containers & Packaging Reference Rate and Spread S + 4.75% Maturity 12/21/26 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.75% | 4.75% | 4.75% |
Maturity | [1],[8] | Dec. 21, 2026 | Dec. 21, 2026 | Dec. 21, 2026 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,653 | ||
Fair Value | [1],[8] | $ 2,649 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Chamberlain Group Inc. Industry Building Products Interest Rate 8.67% Reference Rate and Spread S + 3.25% Maturity 11/03/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.67% | 8.67% | 8.67% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Nov. 03, 2028 | Nov. 03, 2028 | Nov. 03, 2028 |
Par (++) | [1],[6] | $ 2,145 | ||
Cost | [1] | 2,108 | ||
Fair Value | [1] | $ 2,109 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Charter NEX US, Inc. Industry Containers & Packaging Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 12/01/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.18% | 9.18% | 9.18% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Dec. 01, 2027 | Dec. 01, 2027 | Dec. 01, 2027 |
Par (++) | [1],[6] | $ 1,649 | ||
Cost | [1] | 1,643 | ||
Fair Value | [1] | $ 1,632 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Chobani, LLC Industry Food Products Reference Rate and Spread S + 3.50% Maturity 10/25/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Oct. 25, 2027 | Oct. 25, 2027 | Oct. 25, 2027 |
Par (++) | [1],[6],[8] | $ 1,321 | ||
Cost | [1],[8] | 1,325 | ||
Fair Value | [1],[8] | $ 1,320 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Circustrix Holdings, (dba SkyZone) Industry Leisure Equipment & Products Interest Rate 12.08% Reference Rate and Spread S + 6.75% Maturity 07/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 12.08% | 12.08% | 12.08% |
Reference Rate and Spread (+) | [1],[4],[5] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 |
Par (++) | [1],[4],[6] | $ 25,052 | ||
Cost | [1],[4] | 24,438 | ||
Fair Value | [1],[4] | $ 24,426 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[7] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 |
Par (++) | [1],[4],[6],[7] | $ 3,212 | ||
Cost | [1],[4],[7] | (39) | ||
Fair Value | [1],[4],[7] | $ (40) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Circustrix Holdings, LLC (dba SkyZone) IndustryLeisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28 One | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[7] | Jul. 18, 2028 | Jul. 18, 2028 | Jul. 18, 2028 |
Par (++) | [1],[4],[6],[7] | $ 1,606 | ||
Cost | [1],[4],[7] | (38) | ||
Fair Value | [1],[4],[7] | $ (40) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Citadel Securities LP Industry Diversified Financial Services Interest Rate 7.82% Reference Rate and Spread S + 2.50% Maturity 07/29/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 7.82% | 7.82% | 7.82% |
Reference Rate and Spread (+) | [1],[5] | 2.50% | 2.50% | 2.50% |
Maturity | [1] | Jul. 29, 2030 | Jul. 29, 2030 | Jul. 29, 2030 |
Par (++) | [1],[6] | $ 3,863 | ||
Cost | [1] | 3,850 | ||
Fair Value | [1] | $ 3,851 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Clarios Global LP Industry Automobile Components Interest Rate 9.07% Reference Rate and Spread S + 3.75% Maturity 05/06/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.07% | 9.07% | 9.07% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | May 06, 2030 | May 06, 2030 | May 06, 2030 |
Par (++) | [1],[6] | $ 1,025 | ||
Cost | [1] | 1,026 | ||
Fair Value | [1] | $ 1,022 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Clydesdale Acquisition Holdings, Inc. Industry Containers & Packaging Reference Rate and Spread S + 4.18% Maturity 04/13/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.18% | 4.18% | 4.18% |
Maturity | [1],[8] | Apr. 13, 2029 | Apr. 13, 2029 | Apr. 13, 2029 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,618 | ||
Fair Value | [1],[8] | $ 2,603 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Computer Services, Inc. Industry Diversified Financial Services Interest Rate 12.16% Reference Rate and Spread S + 6.75% Maturity 11/15/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.16% | 12.16% | 12.16% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[9] | Nov. 15, 2029 | Nov. 15, 2029 | Nov. 15, 2029 |
Par (++) | [1],[6],[9] | $ 49,750 | ||
Cost | [1],[9] | 48,331 | ||
Fair Value | [1],[9] | $ 48,755 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% ConnectWise, LLC. Industry Software Reference Rate and Spread S + 3.50% Maturity 09/29/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Sep. 29, 2028 | Sep. 29, 2028 | Sep. 29, 2028 |
Par (++) | [1],[6],[8] | $ 1,321 | ||
Cost | [1],[8] | 1,301 | ||
Fair Value | [1],[8] | $ 1,298 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Conservice Midco, LLC. Industry Commercial Services & Supplies Reference Rate and Spread S + 4.25% Maturity 05/13/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.25% | 4.25% | 4.25% |
Maturity | [1],[8] | May 13, 2027 | May 13, 2027 | May 13, 2027 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,645 | ||
Fair Value | [1],[8] | $ 2,641 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Coretrust Purchasing Group LLC. Industry Diversified Financial Services Interest Rate 12.07% Reference Rate and Spread S + 6.75% Maturity 10/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.07% | 12.07% | 12.07% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[9] | Oct. 01, 2029 | Oct. 01, 2029 | Oct. 01, 2029 |
Par (++) | [1],[6],[9] | $ 37,663 | ||
Cost | [1],[9] | 36,590 | ||
Fair Value | [1],[9] | $ 37,004 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Coretrust Purchasing Group LLC. Industry Diversified Financial Services Reference Rate and Spread S + 6.75% Maturity 10/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9] | Oct. 01, 2029 | Oct. 01, 2029 | Oct. 01, 2029 |
Par (++) | [1],[6],[7],[9] | $ 5,526 | ||
Cost | [1],[7],[9] | (154) | ||
Fair Value | [1],[7],[9] | $ (97) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Coretrust Purchasing Group LLC. Industry Diversified Financial Services Reference Rate and Spread S + 6.75% Maturity 10/01/29 One | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9] | Oct. 01, 2029 | Oct. 01, 2029 | Oct. 01, 2029 |
Par (++) | [1],[6],[7],[9] | $ 5,526 | ||
Cost | [1],[7],[9] | (77) | ||
Fair Value | [1],[7],[9] | $ (97) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Cornerstone Building Brands, Inc. Industry Building Products Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 04/12/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.68% | 8.68% | 8.68% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Apr. 12, 2028 | Apr. 12, 2028 | Apr. 12, 2028 |
Par (++) | [1],[6] | $ 1,845 | ||
Cost | [1] | 1,813 | ||
Fair Value | [1] | $ 1,796 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Covanta Holding Corporation Industry Commercial Services & Supplies Interest Rate 8.33% Reference Rate and Spread S + 3.00% Maturity 11/30/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.33% | 8.33% | 8.33% |
Reference Rate and Spread (+) | [1],[5] | 3% | 3% | 3% |
Maturity | [1] | Nov. 30, 2028 | Nov. 30, 2028 | Nov. 30, 2028 |
Par (++) | [1],[6] | $ 140 | ||
Cost | [1] | 138 | ||
Fair Value | [1] | $ 139 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Covanta Holding Corporation Industry Commercial Services & Supplies Interest Rate 8.33% Reference Rate and Spread S + 3.00% Maturity 11/30/28 One | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.33% | 8.33% | 8.33% |
Reference Rate and Spread (+) | [1],[5] | 3% | 3% | 3% |
Maturity | [1] | Nov. 30, 2028 | Nov. 30, 2028 | Nov. 30, 2028 |
Par (++) | [1],[6] | $ 10 | ||
Cost | [1] | 10 | ||
Fair Value | [1] | $ 10 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Covetrus, Inc. Industry Pharmaceuticals Interest Rate 10.39% Reference Rate and Spread S + 5.00% Maturity 10/13/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.39% | 10.39% | 10.39% |
Reference Rate and Spread (+) | [1],[5] | 5% | 5% | 5% |
Maturity | [1] | Oct. 13, 2029 | Oct. 13, 2029 | Oct. 13, 2029 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 461 | ||
Fair Value | [1] | $ 468 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Crewline Buyer, Inc. (dba New Relic) Industry Software Reference Rate and Spread S + 6.75% Maturity 07/30/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[7] | Jul. 30, 2030 | Jul. 30, 2030 | Jul. 30, 2030 |
Par (++) | [1],[4],[6],[7] | $ 6,997 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Crewline Buyer, Inc. (dba New Relic) Industry Software Reference Rate and Spread S + 6.75% Maturity 07/30/30 One | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[7] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[7] | Jul. 30, 2030 | Jul. 30, 2030 | Jul. 30, 2030 |
Par (++) | [1],[4],[6],[7] | $ 67,170 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Crosby US Acquisition Corp. Industry Machinery Interest Rate 10.17% Reference Rate and Spread S + 4.75% Maturity 06/26/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.17% | 10.17% | 10.17% |
Reference Rate and Spread (+) | [1],[5] | 4.75% | 4.75% | 4.75% |
Maturity | [1] | Jun. 26, 2026 | Jun. 26, 2026 | Jun. 26, 2026 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 474 | ||
Fair Value | [1] | $ 472 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Cyanco Intermediate 2 Corp. Industry Chemicals Reference Rate and Spread S + 4.75% Maturity 07/10/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.75% | 4.75% | 4.75% |
Maturity | [1],[8] | Jul. 10, 2028 | Jul. 10, 2028 | Jul. 10, 2028 |
Par (++) | [1],[6],[8] | $ 2,650 | ||
Cost | [1],[8] | 2,644 | ||
Fair Value | [1],[8] | $ 2,651 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.42% | 12.42% | 12.42% |
Reference Rate and Spread (+) | [1],[5],[9] | 7% | 7% | 7% |
Maturity | [1],[9] | Jan. 31, 2029 | Jan. 31, 2029 | Jan. 31, 2029 |
Par (++) | [1],[6],[9] | $ 40,349 | ||
Cost | [1],[9] | 39,210 | ||
Fair Value | [1],[9] | $ 39,542 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29 One | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[7],[9] | 12.42% | 12.42% | 12.42% |
Reference Rate and Spread (+) | [1],[5],[7],[9] | 7% | 7% | 7% |
Maturity | [1],[7],[9] | Jan. 31, 2029 | Jan. 31, 2029 | Jan. 31, 2029 |
Par (++) | [1],[6],[7],[9] | $ 8,448 | ||
Cost | [1],[7],[9] | 2,796 | ||
Fair Value | [1],[7],[9] | $ 2,788 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DG Investment Intermediate Holdings 2, Inc. Industry Construction & Engineering Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.18% | 9.18% | 9.18% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Mar. 31, 2028 | Mar. 31, 2028 | Mar. 31, 2028 |
Par (++) | [1],[6] | $ 1,645 | ||
Cost | [1] | 1,628 | ||
Fair Value | [1] | $ 1,614 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DRW Holdings, LLC Industry Diversified Financial Services Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.18% | 9.18% | 9.18% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Mar. 01, 2028 | Mar. 01, 2028 | Mar. 01, 2028 |
Par (++) | [1],[6] | $ 4,900 | ||
Cost | [1] | 4,893 | ||
Fair Value | [1] | $ 4,886 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Da Vinci Purchaser Corp. Industry Health Care Providers & Services Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 01/08/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Jan. 08, 2027 | Jan. 08, 2027 | Jan. 08, 2027 |
Par (++) | [1],[6] | $ 948 | ||
Cost | [1] | 937 | ||
Fair Value | [1] | $ 936 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Dealer Tire Financial, LLC Industry Distributors Reference Rate and Spread S + 4.50 Maturity 12/14/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.50% | 4.50% | 4.50% |
Maturity | [1],[8] | Dec. 14, 2027 | Dec. 14, 2027 | Dec. 14, 2027 |
Par (++) | [1],[6],[8] | $ 1,321 | ||
Cost | [1],[8] | 1,326 | ||
Fair Value | [1],[8] | $ 1,322 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DexKo Global Inc. Industry Automobile Components Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 10/04/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.40% | 9.40% | 9.40% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Oct. 04, 2028 | Oct. 04, 2028 | Oct. 04, 2028 |
Par (++) | [1],[6] | $ 1,845 | ||
Cost | [1] | 1,814 | ||
Fair Value | [1] | $ 1,796 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Edelman Financial Center, LLC Industry Diversified Financial Services Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 04/07/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.93% | 8.93% | 8.93% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Apr. 07, 2028 | Apr. 07, 2028 | Apr. 07, 2028 |
Par (++) | [1],[6] | $ 2,145 | ||
Cost | [1] | 2,118 | ||
Fair Value | [1] | $ 2,119 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Electron BidCo, Inc. Industry Health Care Providers & Services Reference Rate and Spread S + 3.00% Maturity 11/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3% | 3% | 3% |
Maturity | [1],[8] | Nov. 01, 2028 | Nov. 01, 2028 | Nov. 01, 2028 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,638 | ||
Fair Value | [1],[8] | $ 2,629 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Energize HoldCo, LLC Industry Construction & Engineering Reference Rate and Spread S + 3.75% Maturity 12/08/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Dec. 08, 2028 | Dec. 08, 2028 | Dec. 08, 2028 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,632 | ||
Fair Value | [1],[8] | $ 2,604 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Engineered Machinery Holdings, Inc. Industry Machinery Interest Rate 9.15% Reference Rate and Spread L + 3.50% Maturity 05/19/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.15% | 9.15% | 9.15% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | May 19, 2028 | May 19, 2028 | May 19, 2028 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 220 | ||
Fair Value | [1] | $ 222 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fanatics Commerce Intermediate Holdco, LLC Industry Textiles, Apparel & Luxury Goods Reference Rate and Spread S + 3.25% Maturity 11/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.25% | 3.25% | 3.25% |
Maturity | [1],[8] | Nov. 24, 2028 | Nov. 24, 2028 | Nov. 24, 2028 |
Par (++) | [1],[6],[8] | $ 4,761 | ||
Cost | [1],[8] | 4,769 | ||
Fair Value | [1],[8] | $ 4,747 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% First Advantage Holdings, LLC Industry Software Reference Rate and Spread S + 2.75% Maturity 01/31/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2.75% | 2.75% | 2.75% |
Maturity | [1],[8] | Jan. 31, 2027 | Jan. 31, 2027 | Jan. 31, 2027 |
Par (++) | [1],[6],[8] | $ 2,650 | ||
Cost | [1],[8] | 2,654 | ||
Fair Value | [1],[8] | $ 2,649 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% First Brands Group, LLC Industry Automobile Components Reference Rate and Spread S + 5.00% Maturity 03/30/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 5% | 5% | 5% |
Maturity | [1],[8] | Mar. 30, 2027 | Mar. 30, 2027 | Mar. 30, 2027 |
Par (++) | [1],[6],[8] | $ 1,072 | ||
Cost | [1],[8] | 1,058 | ||
Fair Value | [1],[8] | $ 1,056 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fleet U.S. Bidco, Inc. Industry Commercial Services & Supplies Reference Rate and Spread L + 3.00% Maturity 10/07/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.43% | 8.43% | 8.43% |
Reference Rate and Spread (+) | [1],[5] | 3% | 3% | 3% |
Maturity | [1] | Oct. 07, 2026 | Oct. 07, 2026 | Oct. 07, 2026 |
Par (++) | [1],[6] | $ 2,642 | ||
Cost | [1] | 2,648 | ||
Fair Value | [1] | $ 2,639 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Flexera Software LLC Industry Software Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/03/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.18% | 9.18% | 9.18% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Mar. 03, 2028 | Mar. 03, 2028 | Mar. 03, 2028 |
Par (++) | [1],[6] | $ 673 | ||
Cost | [1] | 671 | ||
Fair Value | [1] | $ 667 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fluid-Flow Products, Inc. Industry Distributors Interest Rate 9.86% Reference Rate and Spread S + 3.75% Maturity 03/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.40% | 9.40% | 9.40% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Mar. 31, 2028 | Mar. 31, 2028 | Mar. 31, 2028 |
Par (++) | [1],[6] | $ 448 | ||
Cost | [1] | 442 | ||
Fair Value | [1] | $ 443 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Foundation Building Materials Holding Company, LLC Industry Specialty Retail Reference Rate and Spread S + 3.25% Maturity 01/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.25% | 3.25% | 3.25% |
Maturity | [1],[8] | Jan. 31, 2028 | Jan. 31, 2028 | Jan. 31, 2028 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,618 | ||
Fair Value | [1],[8] | $ 2,612 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Franklin Square Holdings, L.P. Industry Diversified Financial Services Interest Rate 7.67% Reference Rate and Spread S + 2.25% Maturity 08/01/25 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 7.67% | 7.67% | 7.67% |
Reference Rate and Spread (+) | [1],[5] | 2.25% | 2.25% | 2.25% |
Maturity | [1] | Aug. 01, 2025 | Aug. 01, 2025 | Aug. 01, 2025 |
Par (++) | [1],[6] | $ 3,863 | ||
Cost | [1] | 3,872 | ||
Fair Value | [1] | $ 3,858 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Froneri International Ltd. Industry Food Products Interest Rate 7.67% Reference Rate and Spread S + 2.25% Maturity 01/29/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 7.67% | 7.67% | 7.67% |
Reference Rate and Spread (+) | [1],[5] | 2.25% | 2.25% | 2.25% |
Maturity | [1] | Jan. 29, 2027 | Jan. 29, 2027 | Jan. 29, 2027 |
Par (++) | [1],[6] | $ 2,143 | ||
Cost | [1] | 2,134 | ||
Fair Value | [1] | $ 2,126 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Frontgrade Technologies Holdings Inc. Industry Aerospace & Defense Interest Rate 12.14% Reference Rate and Spread S + 6.75% Maturity 01/09/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.14% | 12.14% | 12.14% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[9] | Jan. 09, 2030 | Jan. 09, 2030 | Jan. 09, 2030 |
Par (++) | [1],[6],[9] | $ 35,480 | ||
Cost | [1],[9] | 34,481 | ||
Fair Value | [1],[9] | $ 34,770 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Frontgrade Technologies Holdings Inc. Industry Aerospace & Defense Reference Rate and Spread S + 6.75% Maturity 01/09/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9] | Jan. 09, 2028 | Jan. 09, 2028 | Jan. 09, 2028 |
Par (++) | [1],[6],[7],[9] | $ 3,689 | ||
Cost | [1],[7],[9] | (100) | ||
Fair Value | [1],[7],[9] | $ (74) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 12.00% (Incl. 4.50% PIK) Maturity 05/01/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 12% | 12% | 12% |
Reference Rate and Spread (+), PIK | [1],[4],[5],[7] | 4.50% | 4.50% | 4.50% |
Maturity | [1],[4],[7] | May 01, 2030 | May 01, 2030 | May 01, 2030 |
Par (++) | [1],[4],[6],[7] | $ 5,208 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 6.00% (Incl. 3.00% PIK) Maturity 05/01/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6% | 6% | 6% |
Reference Rate and Spread (+), PIK | [1],[4],[5],[7] | 3% | 3% | 3% |
Maturity | [1],[4],[7] | May 01, 2030 | May 01, 2030 | May 01, 2030 |
Par (++) | [1],[4],[6],[7] | $ 16,551 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 7.50% PIK Maturity 05/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+), PIK | [1],[4],[5],[7] | 7.50% | 7.50% | 7.50% |
Maturity | [1],[4],[7] | May 01, 2028 | May 01, 2028 | May 01, 2028 |
Par (++) | [1],[4],[6],[7] | $ 926 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fullsteam Operations LLC Industry Diversified Financial Services Reference Rate and Spread S + 7.76% PIK Maturity 05/01/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+), PIK | [1],[4],[5],[7] | 7.76% | 7.76% | 7.76% |
Maturity | [1],[4],[7] | May 01, 2030 | May 01, 2030 | May 01, 2030 |
Par (++) | [1],[4],[6],[7] | $ 2,315 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% GHX Ultimate Parent Corporation Industry Health Care Providers & Services Interest Rate 10.12% Reference Rate and Spread S + 4.75% Maturity 06/30/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.12% | 10.12% | 10.12% |
Reference Rate and Spread (+) | [1],[5] | 4.75% | 4.75% | 4.75% |
Maturity | [1] | Jun. 30, 2027 | Jun. 30, 2027 | Jun. 30, 2027 |
Par (++) | [1],[6] | $ 848 | ||
Cost | [1] | 850 | ||
Fair Value | [1] | $ 847 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Gainwell Acquisition Corp. Industry Pharmaceuticals Interest Rate 9.49% Reference Rate and Spread S + 4.00% Maturity 10/01/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.49% | 9.49% | 9.49% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Oct. 01, 2027 | Oct. 01, 2027 | Oct. 01, 2027 |
Par (++) | [1],[6] | $ 2,144 | ||
Cost | [1] | 2,117 | ||
Fair Value | [1] | $ 2,089 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Getty Images, Inc. Industry IT Services Interest Rate 9.99% Reference Rate and Spread S + 4.50% Maturity 02/19/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.99% | 9.99% | 9.99% |
Reference Rate and Spread (+) | [1],[5] | 4.50% | 4.50% | 4.50% |
Maturity | [1] | Feb. 19, 2026 | Feb. 19, 2026 | Feb. 19, 2026 |
Par (++) | [1],[6] | $ 3,135 | ||
Cost | [1] | 3,146 | ||
Fair Value | [1] | $ 3,138 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Groundworks, LLC Industry Diversified Consumer Services Interest Rate 11.81% Reference Rate and Spread S + 6.50% Maturity 03/14/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 11.81% | 11.81% | 11.81% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[9] | Mar. 14, 2030 | Mar. 14, 2030 | Mar. 14, 2030 |
Par (++) | [1],[6],[9] | $ 9,019 | ||
Cost | [1],[9] | 8,767 | ||
Fair Value | [1],[9] | $ 8,838 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 03/14/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[7],[9] | Mar. 14, 2030 | Mar. 14, 2030 | Mar. 14, 2030 |
Par (++) | [1],[6],[7],[9] | $ 1,108 | ||
Cost | [1],[7],[9] | (15) | ||
Fair Value | [1],[7],[9] | $ (22) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 3/14/2029 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[7],[9] | Mar. 14, 2029 | Mar. 14, 2029 | Mar. 14, 2029 |
Par (++) | [1],[6],[7],[9] | $ 501 | ||
Cost | [1],[7],[9] | (14) | ||
Fair Value | [1],[7],[9] | $ (10) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% HUB International Limited Industry Insurance Interest Rate 9.37% Reference Rate and Spread S + 4.00% Maturity 11/10/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.37% | 9.37% | 9.37% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Nov. 10, 2029 | Nov. 10, 2029 | Nov. 10, 2029 |
Par (++) | [1],[6] | $ 2,145 | ||
Cost | [1] | 2,151 | ||
Fair Value | [1] | $ 2,146 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Harbor Freight Tools USA, Inc. Industry Specialty Retail Reference Rate and Spread S + 2.75% Maturity 10/19/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2.75% | 2.75% | 2.75% |
Maturity | [1],[8] | Oct. 19, 2027 | Oct. 19, 2027 | Oct. 19, 2027 |
Par (++) | [1],[6],[8] | $ 2,646 | ||
Cost | [1],[8] | 2,628 | ||
Fair Value | [1],[8] | $ 2,623 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Heartland Dental, LLC Industry Diversified Consumer Services Interest Rate 10.33% Reference Rate and Spread S + 5.00% Maturity 04/28/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 10.33% | 10.33% | 10.33% |
Reference Rate and Spread (+) | [1],[4],[5] | 5% | 5% | 5% |
Maturity | [1],[4] | Apr. 28, 2028 | Apr. 28, 2028 | Apr. 28, 2028 |
Par (++) | [1],[4],[6] | $ 24,938 | ||
Cost | [1],[4] | 23,283 | ||
Fair Value | [1],[4] | $ 24,647 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Interest Rate 12.45% Reference Rate and Spread S + 6.75% Maturity 06/13/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5],[9] | 12.45% | 12.45% | 12.45% |
Reference Rate and Spread (+) | [1],[4],[5],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[9] | Jun. 13, 2028 | Jun. 13, 2028 | Jun. 13, 2028 |
Par (++) | [1],[4],[6],[9] | $ 8,793 | ||
Cost | [1],[4],[9] | 8,541 | ||
Fair Value | [1],[4],[9] | $ 8,573 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[7],[9] | Jun. 13, 2028 | Jun. 13, 2028 | Jun. 13, 2028 |
Par (++) | [1],[4],[6],[7],[9] | $ 979 | ||
Cost | [1],[4],[7],[9] | (28) | ||
Fair Value | [1],[4],[7],[9] | $ (25) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28 One | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[4],[7],[9] | Jun. 13, 2028 | Jun. 13, 2028 | Jun. 13, 2028 |
Par (++) | [1],[4],[6],[7],[9] | $ 5,876 | ||
Cost | [1],[4],[7],[9] | (166) | ||
Fair Value | [1],[4],[7],[9] | $ (147) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highline Aftermarket Acquisition, LLC Industry Specialty Retail Interest Rate 9.92% Reference Rate and Spread S + 4.50% Maturity 11/09/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.92% | 9.92% | 9.92% |
Reference Rate and Spread (+) | [1],[5] | 4.50% | 4.50% | 4.50% |
Maturity | [1] | Nov. 09, 2027 | Nov. 09, 2027 | Nov. 09, 2027 |
Par (++) | [1],[6] | $ 673 | ||
Cost | [1] | 662 | ||
Fair Value | [1] | $ 666 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Hyland Software, Inc. Industry Software Interest Rate 11.32% Reference Rate and Spread S + 6.00% Maturity 09/19/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 11.32% | 11.32% | 11.32% |
Reference Rate and Spread (+) | [1],[4],[5] | 6% | 6% | 6% |
Maturity | [1],[4] | Sep. 19, 2030 | Sep. 19, 2030 | Sep. 19, 2030 |
Par (++) | [1],[4],[6] | $ 95,475 | ||
Cost | [1],[4] | 94,048 | ||
Fair Value | [1],[4] | $ 94,043 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Hyland Software, Inc. Industry Software Reference Rate and Spread S + 6.00% Maturity 09/19/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6% | 6% | 6% |
Maturity | [1],[4],[7] | Sep. 19, 2029 | Sep. 19, 2029 | Sep. 19, 2029 |
Par (++) | [1],[4],[6],[7] | $ 4,525 | ||
Cost | [1],[4],[7] | 67 | ||
Fair Value | [1],[4],[7] | $ (68) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% INEOS Enterprises Holdings US Finco, LLC Industry Chemicals Reference Rate and Spread S + 3.75% Maturity 07/08/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Jul. 08, 2030 | Jul. 08, 2030 | Jul. 08, 2030 |
Par (++) | [1],[6],[8] | $ 3,639 | ||
Cost | [1],[8] | 3,614 | ||
Fair Value | [1],[8] | $ 3,627 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% INEOS Styrolution US Holding LLC Industry Chemicals Interest Rate 8.18% Reference Rate and Spread S + 2.75% Maturity 01/29/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.18% | 8.18% | 8.18% |
Reference Rate and Spread (+) | [1],[5] | 2.75% | 2.75% | 2.75% |
Maturity | [1] | Jan. 29, 2026 | Jan. 29, 2026 | Jan. 29, 2026 |
Par (++) | [1],[6] | $ 3,215 | ||
Cost | [1] | 3,212 | ||
Fair Value | [1] | $ 3,197 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% IRB Holding Corp. Industry Consumer Staples Distribution & Retail Interest Rate 8.42% Reference Rate and Spread S + 3.00% Maturity 12/15/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.42% | 8.42% | 8.42% |
Reference Rate and Spread (+) | [1],[5] | 3% | 3% | 3% |
Maturity | [1] | Dec. 15, 2027 | Dec. 15, 2027 | Dec. 15, 2027 |
Par (++) | [1],[6] | $ 1,645 | ||
Cost | [1] | 1,634 | ||
Fair Value | [1] | $ 1,637 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% ITT Holdings LLC Industry Oil, Gas & Consumable Fuels Interest Rate 8.18% Reference Rate and Spread S + 2.75% Maturity 07/10/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.18% | 8.18% | 8.18% |
Reference Rate and Spread (+) | [1],[5] | 2.75% | 2.75% | 2.75% |
Maturity | [1] | Jul. 10, 2028 | Jul. 10, 2028 | Jul. 10, 2028 |
Par (++) | [1],[6] | $ 1,696 | ||
Cost | [1] | 1,685 | ||
Fair Value | [1] | $ 1,691 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Icebox Holdco III, Inc. Industry Building Products Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 12/22/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.40% | 9.40% | 9.40% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Dec. 22, 2028 | Dec. 22, 2028 | Dec. 22, 2028 |
Par (++) | [1],[6] | $ 473 | ||
Cost | [1] | 464 | ||
Fair Value | [1] | $ 470 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Illuminate Buyer, LLC Industry Chemicals Reference Rate and Spread S + 3.50% Maturity 06/30/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Jun. 30, 2027 | Jun. 30, 2027 | Jun. 30, 2027 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,637 | ||
Fair Value | [1],[8] | $ 2,633 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ingram Micro, Inc. Industry IT Services Interest Rate 8.65% Reference Rate and Spread S + 3.00% Maturity 06/30/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.65% | 8.65% | 8.65% |
Reference Rate and Spread (+) | [1],[5] | 3% | 3% | 3% |
Maturity | [1] | Jun. 30, 2028 | Jun. 30, 2028 | Jun. 30, 2028 |
Par (++) | [1],[6] | $ 3,109 | ||
Cost | [1] | 3,109 | ||
Fair Value | [1] | $ 3,099 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Innophos, Inc. Industry Chemicals Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 02/05/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.68% | 8.68% | 8.68% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Feb. 05, 2027 | Feb. 05, 2027 | Feb. 05, 2027 |
Par (++) | [1],[6] | $ 448 | ||
Cost | [1] | 446 | ||
Fair Value | [1] | $ 445 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% KKR Apple Bidco, LLC Industry Construction & Engineering Reference Rate and Spread S + 2.75% Maturity 09/22/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2.75% | 2.75% | 2.75% |
Maturity | [1],[8] | Sep. 22, 2028 | Sep. 22, 2028 | Sep. 22, 2028 |
Par (++) | [1],[6],[8] | $ 2,143 | ||
Cost | [1],[8] | 2,125 | ||
Fair Value | [1],[8] | $ 2,126 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Kenan Advantage Group, Inc. Industry Ground Transportation Interest Rate 9.48% Reference Rate and Spread S + 3.75% Maturity 03/24/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.48% | 9.48% | 9.48% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Mar. 24, 2026 | Mar. 24, 2026 | Mar. 24, 2026 |
Par (++) | [1],[6] | $ 948 | ||
Cost | [1] | 950 | ||
Fair Value | [1] | $ 942 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% LABL, Inc. Industry Containers & Packaging Interest Rate 10.42% Reference Rate and Spread S + 5.00% Maturity 10/29/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.42% | 10.42% | 10.42% |
Reference Rate and Spread (+) | [1],[5] | 5% | 5% | 5% |
Maturity | [1] | Oct. 29, 2028 | Oct. 29, 2028 | Oct. 29, 2028 |
Par (++) | [1],[6] | $ 374 | ||
Cost | [1] | 374 | ||
Fair Value | [1] | $ 373 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% LCG Vardiman Black, LLC (dba Specialty Dental Brands) Industry Health Care Providers & Services Interest Rate 12.43% Reference Rate and Spread S + 7.00% Maturity 03/18/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.43% | 12.43% | 12.43% |
Reference Rate and Spread (+) | [1],[5],[9] | 7% | 7% | 7% |
Maturity | [1],[9] | Mar. 18, 2027 | Mar. 18, 2027 | Mar. 18, 2027 |
Par (++) | [1],[6],[9] | $ 27,264 | ||
Cost | [1],[9] | 26,895 | ||
Fair Value | [1],[9] | $ 24,129 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% LSF11 A5 Holdco, LLC Industry Chemicals Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 10/15/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.93% | 8.93% | 8.93% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Oct. 15, 2028 | Oct. 15, 2028 | Oct. 15, 2028 |
Par (++) | [1],[6] | $ 1,321 | ||
Cost | [1] | 1,310 | ||
Fair Value | [1] | $ 1,288 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% M6 ETX Holdings II Midco, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 4.50% Maturity 09/19/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.50% | 4.50% | 4.50% |
Maturity | [1],[8] | Sep. 19, 2029 | Sep. 19, 2029 | Sep. 19, 2029 |
Par (++) | [1],[6],[8] | $ 1,320 | ||
Cost | [1],[8] | 1,319 | ||
Fair Value | [1],[8] | $ 1,315 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% MH Sub I, LLC Industry IT Services Interest Rate 9.57% Reference Rate and Spread S + 4.25% Maturity 05/03/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.57% | 9.57% | 9.57% |
Reference Rate and Spread (+) | [1],[5] | 4.25% | 4.25% | 4.25% |
Maturity | [1] | May 03, 2028 | May 03, 2028 | May 03, 2028 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 215 | ||
Fair Value | [1] | $ 217 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Mavis Tire Express Services Corp. Industry Commercial Services & Supplies Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 05/04/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | May 04, 2028 | May 04, 2028 | May 04, 2028 |
Par (++) | [1],[6] | $ 2,193 | ||
Cost | [1] | 2,185 | ||
Fair Value | [1] | $ 2,185 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% McAfee, LLC Industry Technology Hardware & Equipment Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.18% | 9.18% | 9.18% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Mar. 01, 2029 | Mar. 01, 2029 | Mar. 01, 2029 |
Par (++) | [1],[6] | $ 898 | ||
Cost | [1] | 874 | ||
Fair Value | [1] | $ 876 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Medallion Midland Acquisition, LLC Industry Oil, Gas & Consumable Fuels Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 10/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.40% | 9.40% | 9.40% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Oct. 18, 2028 | Oct. 18, 2028 | Oct. 18, 2028 |
Par (++) | [1],[6] | $ 1,645 | ||
Cost | [1] | 1,644 | ||
Fair Value | [1] | $ 1,645 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Mediaocean LLC Industry Software Interest Rate 8.92% Reference Rate and Spread S + 3.50% Maturity 12/15/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.92% | 8.92% | 8.92% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Dec. 15, 2028 | Dec. 15, 2028 | Dec. 15, 2028 |
Par (++) | [1],[6] | $ 948 | ||
Cost | [1] | 922 | ||
Fair Value | [1] | $ 906 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Medline Borrower, LP Industry Health Care Equipment & Supplies Reference Rate and Spread S + 3.25% Maturity 10/23/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.25% | 3.25% | 3.25% |
Maturity | [1],[8] | Oct. 23, 2028 | Oct. 23, 2028 | Oct. 23, 2028 |
Par (++) | [1],[6],[8] | $ 3,963 | ||
Cost | [1],[8] | 3,938 | ||
Fair Value | [1],[8] | $ 3,950 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% NFP Corp. Industry Diversified Financial Services Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 02/16/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.68% | 8.68% | 8.68% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Feb. 16, 2027 | Feb. 16, 2027 | Feb. 16, 2027 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 470 | ||
Fair Value | [1] | $ 467 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% OneDigital Borrower, LLC Industry Insurance Interest Rate 9.66% Reference Rate and Spread S + 4.25% Maturity 11/16/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.66% | 9.66% | 9.66% |
Reference Rate and Spread (+) | [1],[5] | 4.25% | 4.25% | 4.25% |
Maturity | [1] | Nov. 16, 2027 | Nov. 16, 2027 | Nov. 16, 2027 |
Par (++) | [1],[6] | $ 1,072 | ||
Cost | [1] | 1,069 | ||
Fair Value | [1] | $ 1,069 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ortholite, LLC Industry Textiles, Apparel & Luxury Goods Interest Rate 11.65% Reference Rate and Spread S + 6.25% Maturity 09/29/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 11.65% | 11.65% | 11.65% |
Reference Rate and Spread (+) | [1],[4],[5] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[4] | Sep. 29, 2027 | Sep. 29, 2027 | Sep. 29, 2027 |
Par (++) | [1],[4],[6] | $ 44,959 | ||
Cost | [1],[4] | 44,509 | ||
Fair Value | [1],[4] | $ 44,509 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Oryx Midstream Services Permian Basin, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.25% Maturity 10/05/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.25% | 3.25% | 3.25% |
Maturity | [1],[8] | Oct. 05, 2028 | Oct. 05, 2028 | Oct. 05, 2028 |
Par (++) | [1],[6],[8] | $ 2,791 | ||
Cost | [1],[8] | 2,791 | ||
Fair Value | [1],[8] | $ 2,786 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Oscar AcquisitionCo, LLC Industry Building Products Reference Rate and Spread S + 4.50% Maturity 04/29/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4.50% | 4.50% | 4.50% |
Maturity | [1],[8] | Apr. 29, 2029 | Apr. 29, 2029 | Apr. 29, 2029 |
Par (++) | [1],[6],[8] | $ 1,845 | ||
Cost | [1],[8] | 1,843 | ||
Fair Value | [1],[8] | $ 1,830 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Oxbow Carbon LLC Industry Oil, Gas & Consumable Fuels Interest Rate 9.45% Reference Rate and Spread S + 4.00% Maturity 05/10/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.45% | 9.45% | 9.45% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | May 10, 2030 | May 10, 2030 | May 10, 2030 |
Par (++) | [1],[6] | $ 1,072 | ||
Cost | [1] | 1,078 | ||
Fair Value | [1] | $ 1,070 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% PCI Gaming Authority Industry Entertainment Interest Rate 7.93% Reference Rate and Spread S + 2.50% Maturity 05/29/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 7.93% | 7.93% | 7.93% |
Reference Rate and Spread (+) | [1],[5] | 2.50% | 2.50% | 2.50% |
Maturity | [1] | May 29, 2026 | May 29, 2026 | May 29, 2026 |
Par (++) | [1],[6] | $ 4,775 | ||
Cost | [1] | 4,792 | ||
Fair Value | [1] | $ 4,768 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Peraton Corp. Industry Technology Hardware & Equipment Reference Rate and Spread S + 3.75% Maturity 02/01/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Feb. 01, 2028 | Feb. 01, 2028 | Feb. 01, 2028 |
Par (++) | [1],[6],[8] | $ 2,634 | ||
Cost | [1],[8] | 2,618 | ||
Fair Value | [1],[8] | $ 2,626 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Physician Partners LLC Industry Software Interest Rate 9.42% Reference Rate and Spread S + 4.00% Maturity 12/23/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.42% | 9.42% | 9.42% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Dec. 23, 2028 | Dec. 23, 2028 | Dec. 23, 2028 |
Par (++) | [1],[6] | $ 2,145 | ||
Cost | [1] | 2,044 | ||
Fair Value | [1] | $ 2,035 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Pike Corporation Industry Electric Utilities Interest Rate 8.82% Reference Rate and Spread S + 3.50% Maturity 01/21/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.82% | 8.82% | 8.82% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Jan. 21, 2028 | Jan. 21, 2028 | Jan. 21, 2028 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 224 | ||
Fair Value | [1] | $ 224 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Potters Industries, LLC Industry Building Products Reference Rate and Spread S + 4.00% Maturity 12/14/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4% | 4% | 4% |
Maturity | [1],[8] | Dec. 14, 2027 | Dec. 14, 2027 | Dec. 14, 2027 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,653 | ||
Fair Value | [1],[8] | $ 2,649 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Presidio Holdings Inc. Industry Technology Hardware & Equipment Interest Rate 8.97% Reference Rate and Spread S + 3.50% Maturity 01/22/27 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.97% | 8.97% | 8.97% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Jan. 22, 2027 | Jan. 22, 2027 | Jan. 22, 2027 |
Par (++) | [1],[6] | $ 1,321 | ||
Cost | [1] | 1,324 | ||
Fair Value | [1] | $ 1,318 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Pro Mach Group, Inc. Industry Machinery Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 475 | ||
Fair Value | [1] | $ 474 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Proampac PG Borrower LLC Industry Containers & Packaging Interest Rate 9.30% Reference Rate and Spread S + 3.75% Maturity 11/03/25 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.30% | 9.30% | 9.30% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Nov. 03, 2025 | Nov. 03, 2025 | Nov. 03, 2025 |
Par (++) | [1],[6] | $ 474 | ||
Cost | [1] | 474 | ||
Fair Value | [1] | $ 471 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Project Alpha Intermediate Holding, Inc. Industry Software Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 04/26/24 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Apr. 26, 2024 | Apr. 26, 2024 | Apr. 26, 2024 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 224 | ||
Fair Value | [1] | $ 224 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Project Boost Purchaser, LLC Industry Software Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 06/01/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.93% | 8.93% | 8.93% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Jun. 01, 2026 | Jun. 01, 2026 | Jun. 01, 2026 |
Par (++) | [1],[6] | $ 1,351 | ||
Cost | [1] | 1,347 | ||
Fair Value | [1] | $ 1,347 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Propulsion (BC) Finco S.a.r.l. Industry Aerospace & Defense Reference Rate and Spread S + 3.75% Maturity 09/14/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Sep. 14, 2029 | Sep. 14, 2029 | Sep. 14, 2029 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,649 | ||
Fair Value | [1],[8] | $ 2,636 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Quartz Acquireco, LLC Industry Software Interest Rate 8.82% Reference Rate and Spread S + 3.50% Maturity 06/28/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.82% | 8.82% | 8.82% |
Reference Rate and Spread (+) | [1],[5] | 3.50% | 3.50% | 3.50% |
Maturity | [1] | Jun. 28, 2030 | Jun. 28, 2030 | Jun. 28, 2030 |
Par (++) | [1],[6] | $ 1,325 | ||
Cost | [1] | 1,328 | ||
Fair Value | [1] | $ 1,322 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Quikrete Holdings, Inc. Industry Building Products Reference Rate and Spread S + 2.75% Maturity 03/19/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2.75% | 2.75% | 2.75% |
Maturity | [1],[8] | Mar. 19, 2029 | Mar. 19, 2029 | Mar. 19, 2029 |
Par (++) | [1],[6],[8] | $ 3,165 | ||
Cost | [1],[8] | 3,171 | ||
Fair Value | [1],[8] | $ 3,163 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recochem, Inc Industry Chemicals Reference Rate and Spread S + 5.75% Maturity 09/01/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[10] | 5.75% | 5.75% | 5.75% |
Maturity | [1],[4],[7],[10] | Sep. 01, 2030 | Sep. 01, 2030 | Sep. 01, 2030 |
Par (++) | [1],[4],[6],[7],[10] | $ 9,483 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recochem, Inc Industry Chemicals Reference Rate and Spread S + 5.75% Maturity 09/01/30 One | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[10] | 5.75% | 5.75% | 5.75% |
Maturity | [1],[4],[7],[10] | Sep. 01, 2030 | Sep. 01, 2030 | Sep. 01, 2030 |
Par (++) | [1],[4],[6],[7],[10] | $ 75,867 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recochem, Inc Industry Chemicals Reference Rate and Spread S + 5.75% Maturity 09/01/30 Two | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[10] | 5.75% | 5.75% | 5.75% |
Maturity | [1],[4],[7],[10] | Sep. 01, 2030 | Sep. 01, 2030 | Sep. 01, 2030 |
Par (++) | [1],[4],[6],[7],[10] | $ 14,225 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 09/03/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 11.64% | 11.64% | 11.64% |
Reference Rate and Spread (+) | [1],[4],[5] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[4] | Sep. 03, 2030 | Sep. 03, 2030 | Sep. 03, 2030 |
Par (++) | [1],[4],[6] | $ 77,575 | ||
Cost | [1],[4] | 75,459 | ||
Fair Value | [1],[4] | $ 75,442 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.66% Reference Rate and Spread S + 6.25% Maturity 08/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5],[7] | 11.66% | 11.66% | 11.66% |
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[4],[7] | Aug. 31, 2028 | Aug. 31, 2028 | Aug. 31, 2028 |
Par (++) | [1],[4],[6],[7] | $ 6,278 | ||
Cost | [1],[4],[7] | 3,417 | ||
Fair Value | [1],[4],[7] | $ 3,415 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% RegionalCare Hospital Partners Holdings, Inc. Industry Health Care Providers & Services Interest Rate 9.38% Reference Rate and Spread S + 3.75% Maturity 11/16/25 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.38% | 9.38% | 9.38% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Nov. 16, 2025 | Nov. 16, 2025 | Nov. 16, 2025 |
Par (++) | [1],[6] | $ 891 | ||
Cost | [1] | 843 | ||
Fair Value | [1] | $ 888 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Renaissance Holding Corp. Industry Software Interest Rate 9.99% Reference Rate and Spread S + 4.75% Maturity 04/05/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.99% | 9.99% | 9.99% |
Reference Rate and Spread (+) | [1],[5] | 4.75% | 4.75% | 4.75% |
Maturity | [1] | Apr. 05, 2030 | Apr. 05, 2030 | Apr. 05, 2030 |
Par (++) | [1],[6] | $ 22,500 | ||
Cost | [1] | 21,496 | ||
Fair Value | [1] | $ 22,295 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Reynolds Consumer Products LLC Industry Household Durables Reference Rate and Spread S + 1.75% Maturity 02/04/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 1.75% | 1.75% | 1.75% |
Maturity | [1],[8] | Feb. 04, 2027 | Feb. 04, 2027 | Feb. 04, 2027 |
Par (++) | [1],[6],[8] | $ 4,735 | ||
Cost | [1],[8] | 4,738 | ||
Fair Value | [1],[8] | $ 4,727 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Reynolds Group Holdings, Inc. Industry Containers & Packaging Reference Rate and Spread S + 3.25% Maturity 09/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.25% | 3.25% | 3.25% |
Maturity | [1],[8] | Sep. 24, 2028 | Sep. 24, 2028 | Sep. 24, 2028 |
Par (++) | [1],[6],[8] | $ 3,963 | ||
Cost | [1],[8] | 3,971 | ||
Fair Value | [1],[8] | $ 3,956 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Rockwood Service Corporation Industry Construction & Engineering Reference Rate and Spread S + 4.00% Maturity 01/23/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4% | 4% | 4% |
Maturity | [1],[8] | Jan. 23, 2027 | Jan. 23, 2027 | Jan. 23, 2027 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,657 | ||
Fair Value | [1],[8] | $ 2,648 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Rubrik,Inc. Industry Software Interest Rate 12.37% Reference Rate and Spread S + 7.00% Maturity 08/17/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5],[7] | 12.37% | 12.37% | 12.37% |
Reference Rate and Spread (+) | [1],[4],[5],[7] | 7% | 7% | 7% |
Maturity | [1],[4],[7] | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 |
Par (++) | [1],[4],[6],[7] | $ 11,952 | ||
Cost | [1],[4],[7] | 1,091 | ||
Fair Value | [1],[4],[7] | $ 1,088 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Rubrik,Inc. Industry Software Interest Rate 12.53% Reference Rate and Spread S + 7.00% Maturity 08/17/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 12.53% | 12.53% | 12.53% |
Reference Rate and Spread (+) | [1],[4],[5] | 7% | 7% | 7% |
Maturity | [1],[4] | Aug. 17, 2028 | Aug. 17, 2028 | Aug. 17, 2028 |
Par (++) | [1],[4],[6] | $ 85,514 | ||
Cost | [1],[4] | 84,677 | ||
Fair Value | [1],[4] | $ 84,659 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% SRAM, LLC Industry Leisure Products Interest Rate 8.18% Reference Rate and Spread S + 2.75% Maturity 05/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.18% | 8.18% | 8.18% |
Reference Rate and Spread (+) | [1],[5] | 2.75% | 2.75% | 2.75% |
Maturity | [1] | May 18, 2028 | May 18, 2028 | May 18, 2028 |
Par (++) | [1],[6] | $ 1,072 | ||
Cost | [1] | 1,069 | ||
Fair Value | [1] | $ 1,067 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Sedgwick Claims Management Services, Inc. Industry Insurance Reference Rate and Spread S + 3.75% Maturity 02/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Feb. 24, 2028 | Feb. 24, 2028 | Feb. 24, 2028 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,635 | ||
Fair Value | [1],[8] | $ 2,635 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Singlewire Software, LLC Industry Software Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 05/10/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5],[9] | 11.64% | 11.64% | 11.64% |
Reference Rate and Spread (+) | [1],[4],[5],[9] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[4],[9] | May 10, 2029 | May 10, 2029 | May 10, 2029 |
Par (++) | [1],[4],[6],[9] | $ 21,720 | ||
Cost | [1],[4],[9] | 21,102 | ||
Fair Value | [1],[4],[9] | $ 21,177 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Singlewire Software, LLC Industry Software Reference Rate and Spread S + 6.25% Maturity 05/10/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7],[9] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[4],[7],[9] | May 10, 2029 | May 10, 2029 | May 10, 2029 |
Par (++) | [1],[4],[6],[7],[9] | $ 3,226 | ||
Cost | [1],[4],[7],[9] | (91) | ||
Fair Value | [1],[4],[7],[9] | $ (81) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Solaris (dba Urology Management Holdings, Inc.) Industry Health Care Providers & Services Interest Rate 11.79% Reference Rate and Spread S + 6.25% Maturity 06/15/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 11.79% | 11.79% | 11.79% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[9] | Jun. 15, 2026 | Jun. 15, 2026 | Jun. 15, 2026 |
Par (++) | [1],[6],[9] | $ 14,762 | ||
Cost | [1],[9] | 14,376 | ||
Fair Value | [1],[9] | $ 14,393 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Solaris (dba Urology Management Holdings, Inc.) Industry Health Care Providers & Services Reference Rate and Spread S + 6.25% Maturity 06/15/26 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.25% | 6.25% | 6.25% |
Maturity | [1],[7],[9] | Jun. 15, 2026 | Jun. 15, 2026 | Jun. 15, 2026 |
Par (++) | [1],[6],[7],[9] | $ 7,437 | ||
Cost | [1],[7],[9] | (190) | ||
Fair Value | [1],[7],[9] | $ (186) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Sorenson Communications, LLC Industry Telecommunications Interest Rate 10.93% Reference Rate and Spread S + 5.50% Maturity 03/17/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.93% | 10.93% | 10.93% |
Reference Rate and Spread (+) | [1],[5] | 5.50% | 5.50% | 5.50% |
Maturity | [1] | Mar. 17, 2026 | Mar. 17, 2026 | Mar. 17, 2026 |
Par (++) | [1],[6] | $ 2,093 | ||
Cost | [1] | 1,989 | ||
Fair Value | [1] | $ 1,993 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.04% Reference Rate and Spread S + 6.50% Maturity 07/25/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.04% | 12.04% | 12.04% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[9] | Jul. 25, 2028 | Jul. 25, 2028 | Jul. 25, 2028 |
Par (++) | [1],[6],[9] | $ 5,067 | ||
Cost | [1],[9] | 4,923 | ||
Fair Value | [1],[9] | $ 4,940 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.30% Reference Rate and Spread S + 6.75% Maturity 07/25/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.30% | 12.30% | 12.30% |
Reference Rate and Spread (+) | [1],[5],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[9] | Jul. 25, 2028 | Jul. 25, 2028 | Jul. 25, 2028 |
Par (++) | [1],[6],[9] | $ 32,686 | ||
Cost | [1],[9] | 31,772 | ||
Fair Value | [1],[9] | $ 31,869 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Standard Industries, Inc. Industry Building Products Reference Rate and Spread S + 2.50% Maturity 09/22/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 2.50% | 2.50% | 2.50% |
Maturity | [1],[8] | Sep. 22, 2028 | Sep. 22, 2028 | Sep. 22, 2028 |
Par (++) | [1],[6],[8] | $ 4,753 | ||
Cost | [1],[8] | 4,762 | ||
Fair Value | [1],[8] | $ 4,749 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Summit Behavioral Healthcare, LLC Industry Health Care Providers & Services Interest Rate 10.43% Reference Rate and Spread S + 4.75% Maturity 11/24/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.43% | 10.43% | 10.43% |
Reference Rate and Spread (+) | [1],[5] | 4.75% | 4.75% | 4.75% |
Maturity | [1] | Nov. 24, 2028 | Nov. 24, 2028 | Nov. 24, 2028 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 223 | ||
Fair Value | [1] | $ 223 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.87% Reference Rate and Spread S + 6.50% Maturity 08/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5],[7] | 11.87% | 11.87% | 11.87% |
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[4],[7] | Aug. 01, 2029 | Aug. 01, 2029 | Aug. 01, 2029 |
Par (++) | [1],[4],[6],[7] | $ 1,045 | ||
Cost | [1],[4],[7] | 288 | ||
Fair Value | [1],[4],[7] | $ 287 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.92% Reference Rate and Spread S + 6.50% Maturity 08/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 11.92% | 11.92% | 11.92% |
Reference Rate and Spread (+) | [1],[4],[5] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[4] | Aug. 01, 2029 | Aug. 01, 2029 | Aug. 01, 2029 |
Par (++) | [1],[4],[6] | $ 10,447 | ||
Cost | [1],[4] | 10,191 | ||
Fair Value | [1],[4] | $ 10,186 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Superior Environmental Solutions Industry Commercial Services & Supplies Reference Rate and Spread S + 6.50% Maturity 08/01/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[4],[7] | Aug. 01, 2029 | Aug. 01, 2029 | Aug. 01, 2029 |
Par (++) | [1],[4],[6],[7] | $ 1,567 | ||
Cost | [1],[4],[7] | 19 | ||
Fair Value | [1],[4],[7] | $ (20) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Syncapay Inc Industry Diversified Financial Services Reference Rate and Spread S + 6.50% Maturity 12/10/27 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 6.50% | 6.50% | 6.50% |
Maturity | [1],[8] | Dec. 10, 2027 | Dec. 10, 2027 | Dec. 10, 2027 |
Par (++) | [1],[6],[8] | $ 944 | ||
Cost | [1],[8] | 941 | ||
Fair Value | [1],[8] | $ 944 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Thevelia (US), LLC Industry Commercial Services & Supplies Reference Rate and Spread S + 4.00% Maturity 06/18/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 4% | 4% | 4% |
Maturity | [1],[8] | Jun. 18, 2029 | Jun. 18, 2029 | Jun. 18, 2029 |
Par (++) | [1],[6],[8] | $ 448 | ||
Cost | [1],[8] | 447 | ||
Fair Value | [1],[8] | $ 446 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Trader Corporation Industry Automobiles Interest Rate 12.13% Reference Rate and Spread C + 6.75% Maturity 12/21/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9],[10] | 12.13% | 12.13% | 12.13% |
Reference Rate and Spread (+) | [1],[5],[9],[10] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[9],[10] | Dec. 21, 2029 | Dec. 21, 2029 | Dec. 21, 2029 |
Par (++) | [1],[6],[9],[10] | $ 61,802 | ||
Cost | [1],[9],[10] | $ 44,672 | ||
Fair Value | [1],[9],[10] | $ 44,705 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Trader Corporation Industry Automobiles Reference Rate and Spread C + 6.75% Maturity 12/22/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9],[10] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9],[10] | Dec. 22, 2028 | Dec. 22, 2028 | Dec. 22, 2028 |
Par (++) | [1],[6],[7],[9],[10] | $ 4,658 | ||
Cost | [1],[7],[9],[10] | $ (93) | ||
Fair Value | [1],[7],[9],[10] | $ (60) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% TricorBraun Holdings, Inc. Industry Containers & Packaging Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 03/03/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.68% | 8.68% | 8.68% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Mar. 03, 2028 | Mar. 03, 2028 | Mar. 03, 2028 |
Par (++) | [1],[6] | $ 224 | ||
Cost | [1] | 217 | ||
Fair Value | [1] | $ 219 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Truck Hero, Inc. Industry Automobile Components Reference Rate and Spread S + 3.75% Maturity 01/31/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Jan. 31, 2028 | Jan. 31, 2028 | Jan. 31, 2028 |
Par (++) | [1],[6],[8] | $ 673 | ||
Cost | [1],[8] | 646 | ||
Fair Value | [1],[8] | $ 642 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% USI, Inc. Industry Insurance Reference Rate and Spread S + 3.75% Maturity 11/22/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Nov. 22, 2029 | Nov. 22, 2029 | Nov. 22, 2029 |
Par (++) | [1],[6],[8] | $ 1,321 | ||
Cost | [1],[8] | 1,325 | ||
Fair Value | [1],[8] | $ 1,319 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% VASA Fitness Buyer, Inc. Industry Consumer Retail Interest Rate 13.31% Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 13.31% | 13.31% | 13.31% |
Reference Rate and Spread (+) | [1],[4],[5] | 7.50% | 7.50% | 7.50% |
Reference Rate and Spread (+), PIK | [1],[4],[5] | 0.38% | 0.38% | 0.38% |
Maturity | [1],[4] | Aug. 14, 2028 | Aug. 14, 2028 | Aug. 14, 2028 |
Par (++) | [1],[4],[6] | $ 15,240 | ||
Cost | [1],[4] | 14,717 | ||
Fair Value | [1],[4] | $ 14,707 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 7.50% | 7.50% | 7.50% |
Reference Rate and Spread (+), PIK | [1],[4],[5],[7] | 0.38% | 0.38% | 0.38% |
Maturity | [1],[4],[7] | Aug. 14, 2028 | Aug. 14, 2028 | Aug. 14, 2028 |
Par (++) | [1],[4],[6],[7] | $ 435 | ||
Cost | [1],[4],[7] | 15 | ||
Fair Value | [1],[4],[7] | $ (15) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 One | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[4],[5],[7] | 7.50% | 7.50% | 7.50% |
Reference Rate and Spread (+), PIK | [1],[4],[5],[7] | 0.38% | 0.38% | 0.38% |
Maturity | [1],[4],[7] | Aug. 14, 2028 | Aug. 14, 2028 | Aug. 14, 2028 |
Par (++) | [1],[4],[6],[7] | $ 2,612 | ||
Cost | [1],[4],[7] | 44 | ||
Fair Value | [1],[4],[7] | $ (46) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Vaco Holdings, LLC Industry Commercial Services & Supplies Reference Rate and Spread S + 5.00% Maturity 01/21/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 5% | 5% | 5% |
Maturity | [1],[8] | Jan. 21, 2029 | Jan. 21, 2029 | Jan. 21, 2029 |
Par (++) | [1],[6],[8] | $ 2,143 | ||
Cost | [1],[8] | 2,025 | ||
Fair Value | [1],[8] | $ 2,052 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Vector WP Holdco, Inc. Industry Building Products Interest Rate 10.43% Reference Rate and Spread S + 5.00% Maturity 10/12/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 10.43% | 10.43% | 10.43% |
Reference Rate and Spread (+) | [1],[5] | 5% | 5% | 5% |
Maturity | [1] | Oct. 12, 2028 | Oct. 12, 2028 | Oct. 12, 2028 |
Par (++) | [1],[6] | $ 597 | ||
Cost | [1] | 589 | ||
Fair Value | [1] | $ 590 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Verscend Holding Corp. Industry Commercial Services & Supplies Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/27/25 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.43% | 9.43% | 9.43% |
Reference Rate and Spread (+) | [1],[5] | 4% | 4% | 4% |
Maturity | [1] | Aug. 27, 2025 | Aug. 27, 2025 | Aug. 27, 2025 |
Par (++) | [1],[6] | $ 2,143 | ||
Cost | [1] | 2,148 | ||
Fair Value | [1] | $ 2,141 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Virgin Media Bristol, LLC Industry Media Interest Rate 8.70% Reference Rate and Spread S + 3.25% Maturity 01/31/29 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.70% | 8.70% | 8.70% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Jan. 31, 2029 | Jan. 31, 2029 | Jan. 31, 2029 |
Par (++) | [1],[6] | $ 4,775 | ||
Cost | [1] | 4,746 | ||
Fair Value | [1] | $ 4,652 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Virtusa Corporation Industry Technology Hardware & Equipment Reference Rate and Spread S + 3.75% Maturity 02/15/29 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.75% | 3.75% | 3.75% |
Maturity | [1],[8] | Feb. 15, 2029 | Feb. 15, 2029 | Feb. 15, 2029 |
Par (++) | [1],[6],[8] | $ 2,642 | ||
Cost | [1],[8] | 2,634 | ||
Fair Value | [1],[8] | $ 2,622 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% W.R. Grace & Co.-Conn. Industry Chemicals Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 09/22/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.40% | 9.40% | 9.40% |
Reference Rate and Spread (+) | [1],[5] | 3.75% | 3.75% | 3.75% |
Maturity | [1] | Sep. 22, 2028 | Sep. 22, 2028 | Sep. 22, 2028 |
Par (++) | [1],[6] | $ 473 | ||
Cost | [1] | 473 | ||
Fair Value | [1] | $ 469 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Wand NewCo 3, Inc. Industry Commercial Services & Supplies Interest Rate 8.17% Reference Rate and Spread S + 2.75% Maturity 02/05/26 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.17% | 8.17% | 8.17% |
Reference Rate and Spread (+) | [1],[5] | 2.75% | 2.75% | 2.75% |
Maturity | [1] | Feb. 05, 2026 | Feb. 05, 2026 | Feb. 05, 2026 |
Par (++) | [1],[6] | $ 946 | ||
Cost | [1] | 943 | ||
Fair Value | [1] | $ 944 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Windsor Holdings III, LLC Industry Distributors Interest Rate 9.83% Reference Rate and Spread S + 4.50% Maturity 08/01/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 9.83% | 9.83% | 9.83% |
Reference Rate and Spread (+) | [1],[5] | 4.50% | 4.50% | 4.50% |
Maturity | [1] | Aug. 01, 2030 | Aug. 01, 2030 | Aug. 01, 2030 |
Par (++) | [1],[6] | $ 675 | ||
Cost | [1] | 669 | ||
Fair Value | [1] | $ 672 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% World Wide Technology Holding Co., LLC Industry Technology Hardware & Equipment Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 03/01/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 8.68% | 8.68% | 8.68% |
Reference Rate and Spread (+) | [1],[5] | 3.25% | 3.25% | 3.25% |
Maturity | [1] | Mar. 01, 2030 | Mar. 01, 2030 | Mar. 01, 2030 |
Par (++) | [1],[6] | $ 3,863 | ||
Cost | [1] | 3,870 | ||
Fair Value | [1] | $ 3,859 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Zelis Healthcare Corporation Industry Software Reference Rate and Spread S + 3.50% Maturity 09/30/26 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[8] | 3.50% | 3.50% | 3.50% |
Maturity | [1],[8] | Sep. 30, 2026 | Sep. 30, 2026 | Sep. 30, 2026 |
Par (++) | [1],[6],[8] | $ 1,321 | ||
Cost | [1],[8] | 1,327 | ||
Fair Value | [1],[8] | $ 1,320 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Interest Rate 12.14% Reference Rate and Spread S + 6.75% Maturity 08/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[7],[9] | 12.14% | 12.14% | 12.14% |
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 |
Par (++) | [1],[6],[7],[9] | $ 3,067 | ||
Cost | [1],[7],[9] | 463 | ||
Fair Value | [1],[7],[9] | $ 413 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Interest Rate 12.63% Reference Rate and Spread S + 7.25% (Incl. 3.88% PIK) Maturity 08/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.63% | 12.63% | 12.63% |
Reference Rate and Spread (+) | [1],[5],[9] | 7.25% | 7.25% | 7.25% |
Reference Rate and Spread (+), PIK | [1],[5],[9] | 3.88% | 3.88% | 3.88% |
Maturity | [1],[9] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 |
Par (++) | [1],[6],[9] | $ 33,175 | ||
Cost | [1],[9] | 32,647 | ||
Fair Value | [1],[9] | $ 32,097 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Interest Rate 12.63% Reference Rate and Spread S + 7.25% Maturity 08/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9] | 12.63% | 12.63% | 12.63% |
Reference Rate and Spread (+) | [1],[5],[9] | 7.25% | 7.25% | 7.25% |
Maturity | [1],[9] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 |
Par (++) | [1],[6],[9] | $ 6,000 | ||
Cost | [1],[9] | 5,902 | ||
Fair Value | [1],[9] | $ 5,910 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Reference Rate and Spread S + 6.75% Maturity 08/18/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9] | Aug. 18, 2028 | Aug. 18, 2028 | Aug. 18, 2028 |
Par (++) | [1],[6],[7],[9] | $ 7,584 | ||
Fair Value | [1],[7],[9] | $ (247) | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iWave Information Systems, Inc. Industry Software Interest Rate 12.29% Reference Rate and Spread S + 6.75% Maturity 11/23/28 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5],[9],[10] | 12.29% | 12.29% | 12.29% |
Reference Rate and Spread (+) | [1],[5],[9],[10] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[9],[10] | Nov. 23, 2028 | Nov. 23, 2028 | Nov. 23, 2028 |
Par (++) | [1],[6],[9],[10] | $ 19,462 | ||
Cost | [1],[9],[10] | 19,005 | ||
Fair Value | [1],[9],[10] | $ 18,975 | ||
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iWave Information Systems, Inc. Industry Software Reference Rate and Spread S + 6.75% Maturity 11/23/28 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7],[9],[10] | 6.75% | 6.75% | 6.75% |
Maturity | [1],[7],[9],[10] | Nov. 23, 2028 | Nov. 23, 2028 | Nov. 23, 2028 |
Par (++) | [1],[6],[7],[9],[10] | $ 2,391 | ||
Cost | [1],[7],[9],[10] | (55) | ||
Fair Value | [1],[7],[9],[10] | $ (60) | ||
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 1.85% AWP Group Holdings, Inc. Industry Commercial Services & Supplies Interest Rate 14.22% Reference Rate and Spread S + 8.75% Maturity 12/23/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[4],[5] | 14.22% | 14.22% | 14.22% |
Reference Rate and Spread (+) | [1],[4],[5] | 8.75% | 8.75% | 8.75% |
Maturity | [1],[4] | Dec. 23, 2030 | Dec. 23, 2030 | Dec. 23, 2030 |
Par (++) | [1],[4],[6] | $ 4,545 | ||
Cost | [1],[4] | 4,456 | ||
Fair Value | [1],[4] | $ 4,455 | ||
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 1.85% AWP Group Holdings, Inc. Industry Commercial Services & Supplies Interest Rate 14.24% Reference Rate and Spread S + 8.75% Maturity 12/23/30 | ||||
Schedule Of Investments [Line Items] | ||||
Interest Rate (+) | [1],[5] | 14.24% | 14.24% | 14.24% |
Reference Rate and Spread (+) | [1],[5] | 8.75% | 8.75% | 8.75% |
Maturity | [1] | Dec. 23, 2030 | Dec. 23, 2030 | Dec. 23, 2030 |
Par (++) | [1],[6] | $ 15,909 | ||
Cost | [1] | 15,595 | ||
Fair Value | [1] | $ 15,591 | ||
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 1.85% AWP Group Holdings, Inc. Industry Commercial Services & Supplies Reference Rate and Spread S + 8.75% Maturity 12/23/30 | ||||
Schedule Of Investments [Line Items] | ||||
Reference Rate and Spread (+) | [1],[5],[7] | 8.75% | 8.75% | 8.75% |
Maturity | [1],[7] | Dec. 23, 2030 | Dec. 23, 2030 | Dec. 23, 2030 |
Par (++) | [1],[6],[7] | $ 4,545 | ||
Cost | [1],[7] | 45 | ||
Fair Value | [1],[7] | $ (46) | ||
Investment, Identifier [Axis]: Investments | ||||
Schedule Of Investments [Line Items] | ||||
Investment owned, percent of net assets | [1],[3] | 110.76% | 110.76% | 110.76% |
Investment, Identifier [Axis]: Investments - 110.76% | ||||
Schedule Of Investments [Line Items] | ||||
Cost | [1] | $ 1,197,315 | ||
Fair Value | [1] | 1,197,616 | ||
Investment, Identifier [Axis]: Investments and Investments in Affiliated Money Market Fund - 118.13% | ||||
Schedule Of Investments [Line Items] | ||||
Cost | [1] | 1,276,989 | ||
Fair Value | [1] | $ 1,277,290 | ||
Investment owned, percent of net assets | [1],[3] | 118.13% | 118.13% | 118.13% |
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund | ||||
Schedule Of Investments [Line Items] | ||||
Cost | [1] | $ 79,674 | ||
Fair Value | [1] | $ 79,674 | ||
Investment owned, percent of net assets | [1],[3],[5] | 7.37% | 7.37% | 7.37% |
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 7.37% Goldman Sachs Financial Square Government Fund - Institutional Shares | ||||
Schedule Of Investments [Line Items] | ||||
Par/Shares (++) | shares | [1],[6],[11],[12] | 79,674,001 | 79,674,001 | 79,674,001 |
Cost | [1],[11],[12] | $ 79,674 | ||
Fair Value | [1],[11],[12] | $ 79,674 | ||
[1] Assets are pledged as collateral for the Revolving Credit Facilities (as defined below). See Note 6 “Debt”. In exchange for the greater risk of loss, the “last-out” portion of the Company's unitranche loan investment generally earns a higher interest rate than the “first-out” portions. The “first-out” portion would generally receive priority with respect to payment of principal, interest and any other amounts due thereunder over the “last-out” portion. Percentages are based on net assets. Represents co-investments made in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3 “Significant Agreements and Related Party Transactions”. Represents the actual interest rate for partially or fully funded debt in effect as of the reporting date. Certain investments are subject to an interest rate floor. Variable rate loans bear interest at a rate that may be determined by the larger of the floor or the reference to either LIBOR ("L"), Euribor ("E"), SOFR including SOFR adjustment, if any, ("S"), CDOR ("C") or alternate base rate (commonly based on the U.S. Prime Rate ("P"), unless otherwise noted) at the borrower's option, which reset periodically based on the terms of the credit agreement. L and S loans are typically indexed to 12 month, 6 month, 3 month or 1 month L or S rates. As of September 30, 2023, the rate for the 1 month L was 5.43 %. As of September 30, 2023, 6 month S was 5.47 %, 3 month S was 5.40 %, 1 month S was 5.32 %, 1 month E was 3.85 % and 1 month CDOR was 5.39 %. For investments with multiple reference rates or alternate base rates, the interest rate shown is the weighted average interest rate in effect at September 30, 2023. Par amount is presented for debt investments, while the number of shares or units owned is presented for equity investments. Par amount is denominated in U.S. Dollars ("$" or "USD") unless otherwise noted, Euro ("€"), or Canadian dollar ("CAD"). Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 7 “Commitments and Contingencies”. Position or portion thereof unsettled as of September 30, 2023. Interest rate associated with this purchase is not known prior to the settlement date. The fair value of the investment was determined using significant unobservable inputs. See Note 5 “Fair Value Measurement”. The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70 % of the Company’s total assets. As of September 30, 2023, the aggregate fair value of these non-qualifying securities is $ 63,560 or 4.56 % of the Company’s total assets. The annualized seven-day yield as of September 30, 2023 is 5.24 %. The investment is otherwise deemed to be an “affiliated person” of the Company. See Note 3 “Significant Agreements and Related Party Transactions”. |
Consolidated Schedule of Inve_2
Consolidated Schedule of Investments (Parenthetical) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Schedule of Investments [Line Items] | |
Annualized seven-day yield percentage | 5.24% |
Fair Value, Recurring | |
Schedule of Investments [Line Items] | |
Fair value of securities | $ 63,560 |
Percentage of not qualifying assets | 4.56% |
Affiliated Person | |
Schedule of Investments [Line Items] | |
Percentage of qualifying assets | 70% |
6 month SOFR | |
Schedule of Investments [Line Items] | |
Investment interest rate of percentage | 5.47% |
1 month LIBOR | |
Schedule of Investments [Line Items] | |
Investment interest rate of percentage | 5.43% |
1 month SOFR | |
Schedule of Investments [Line Items] | |
Investment interest rate of percentage | 5.32% |
1 month CDOR | |
Schedule of Investments [Line Items] | |
Investment interest rate of percentage | 5.39% |
1 month E | |
Schedule of Investments [Line Items] | |
Investment interest rate of percentage | 3.85% |
3 month SOFR | |
Schedule of Investments [Line Items] | |
Investment interest rate of percentage | 5.40% |
N-2
N-2 | 9 Months Ended |
Sep. 30, 2023 | |
Cover [Abstract] | |
Entity Central Index Key | 0001920145 |
Amendment Flag | false |
Securities Act File Number | 814-01627 |
Document Type | 10-Q |
Entity Registrant Name | Goldman Sachs Private Credit Corp. |
Entity Address, Address Line One | 200 West Street |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10282 |
City Area Code | 312 |
Local Phone Number | 655 - 4419 |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | true |
General Description of Registrant [Abstract] | |
Risk [Text Block] | Item 1A. Risk Factors. An investment in our securities involves a high degree of risk. Except as set forth below, there have been no material changes to the risk factors previously reported under Item 1A. “Risk Factors” of the Form 10/A. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may materially affect our business, financial condition and/or operating results. Our business and the businesses of our portfolio companies are dependent on bank relationships and recent concerns associated with the banking system may adversely impact us. The financial markets recently experienced volatility in connection with concerns that some banks, especially small and regional banks, may have significant investment-related losses that might make it difficult to fund demands to withdraw deposits and other liquidity needs. Although the federal government announced measures to assist certain banks and protect depositors, some banks had already been impacted and others may be adversely impacted, by such volatility. Our business and the businesses of our portfolio companies are dependent on bank relationships. We continue to monitor the financial health of these relationships. Any further strain on the banking system may adversely impact the business, financial condition and results of operations of us and our portfolio companies. |
Organization
Organization | 9 Months Ended |
Sep. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization | 1. ORGANIZATION Goldman Sachs Private Credit Corp. (f/k/a Goldman Sachs Loan Fund LLC and Goldman Sachs Private Credit Fund LLC) (the "Company", which term refers to either Goldman Sachs Private Credit Corp. or Goldman Sachs Private Credit Corp. together with its consolidated subsidiary, as the context may require) is a Delaware corporation formed on March 25, 2022 that intends to elect to be treated, and expects to qualify annually, as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”) and has elected to be treated as a business development company (“BDC”) under the Investment Company Act. On April 6, 2023, the Company elected to be regulated as a BDC, converted from a Delaware limited liability company into a Delaware corporation and commenced operations. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation primarily through direct originations of secured debt, including first lien debt, unitranche debt, including last-out portions of such loans, second lien debt, and unsecured debt, including mezzanine debt, as well as through select equity investments. The Company will also invest a portion of the portfolio in more liquid investments, such as broadly syndicated loans and other fixed-income securities, to provide the portfolio with additional liquidity. Goldman Sachs Asset Management, L.P. (“GSAM”), a Delaware limited partnership and an affiliate of Goldman Sachs & Co. LLC (including its predecessors, “GS & Co.”), is the investment adviser (the “Investment Adviser”) of the Company. The term “Goldman Sachs” refers to The Goldman Sachs Group, Inc., together with GS & Co., GSAM and its other subsidiaries. The Company is conducting an offering of the Company’s Class I common stock, par value $ 0.001 per share (the “Shares”), on a continuous basis (the “Offering”). The offering and sale of common stock is exempt from registration in reliance on Section 4(a)(2) of the U.S. Securities Act of 1933, as amended (the “Securities Act”) and Regulation D and Regulation S thereunder, for offers and sales of securities that do not involve a public offering and for offers and sales of securities outside of the United States. The Company is currently only offering the Shares for sale. Prior to and including April 6, 2023 (the “Initial Issuance Date”), the per share purchase price for the Shares in the Offering was $ 25.00 per share. After the Initial Issuance Date, the purchase price per share for each class of the Company’s common stock will equal the net asset value (“NAV”) per share, as of the effective date of the applicable monthly share purchase date. Prior to the Initial Issuance Date, the Company held shareholders’ funds received in connection with the Offering in an escrow account subject to the satisfaction of certain conditions (the “Escrow Conditions”). On the Initial Issuance Date, the Escrow Conditions were satisfied and the Company broke escrow in connection with the initial closing of the Offering. GS & Co. will assist the Company in conducting the Offering pursuant to agreements between the Company and GS & Co. The Company conducted an offering to accredited investors to purchase shares of the Company’s 12.0 % Series A Cumulative Preferred Stock, par value $ 0.001 per share (the “Series A Preferred Stock”), in reliance on Regulation D under the Securities Act. The holders of the Series A Preferred Stock were subject to certain dividend, voting, liquidation and other rights. The Company redeemed all of the issued and outstanding Series A Preferred Stock on September 28, 2023. On December 19, 2022, the Company received a capital contribution of one thousand dollars from an affiliate of the Investment Adviser (the “Initial Member”). The Initial Member served as the sole owner of the Company’s interests until the Initial Issuance Date. In connection with the Initial Issuance Date, such equity interests were cancelled. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company’s functional currency is USD and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements. Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes related thereto for the period from March 25, 2022 (inception) to December 31, 2022, included in the Company’s Amendment No. 1 to its Registration Statement on Form 10, which was filed with the SEC on May 18, 2023. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period or any future year or period. As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). Basis of Consolidation As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiary, GS Private Credit SPV Public I LLC (“SPV Public I”) . All significant intercompany transactions and balances have been eliminated in consolidation. Revenue Recognition The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount (“OID”) and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income. For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Accelerated amortization of upfront loan origination fees and unamortized discounts $ 35 $ 60 Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser. Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any. Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income, respectively. Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time. Non-Accrual Investments Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to the applicable contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of September 30, 2023 and December 31, 2022 , the Company did not have any investments on non-accrual status. Investments The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the board of directors of the Company (the “Board of Directors” or “Board”), pursuant to Rule 2a-5 under the Investment Company Act. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement.” The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below: (1) The quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the valuation of the portfolio investment; (2) The Valuation Designee also engages independent valuation firms (the “Independent Valuation Advisors”) to provide independent valuations of the investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of an investment. The Independent Valuation Advisors independently value such investments using quantitative and qualitative information. The Independent Valuation Advisors also provide analyses to support their valuation methodology and calculations. The Independent Valuation Advisors provide an opinion on a final range of values on such investments to the Valuation Designee. The Independent Valuation Advisors define fair value in accordance with ASC 820 and utilize valuation approaches including the market approach, the income approach or both. A portion of the portfolio is reviewed on a quarterly basis, and all investments in the portfolio for which market quotations are not readily available, or are readily available, but deemed not reflective of the fair value of an investment, are reviewed at least annually by an Independent Valuation Advisor; (3) The Independent Valuation Advisors’ preliminary valuations are reviewed by the Investment Adviser and the Valuation Oversight Group (“VOG”), a team that is part of the controllers group of Goldman Sachs. The Independent Valuation Advisors’ valuation ranges are compared to the Investment Adviser’s valuations to ensure the Investment Adviser’s valuations are reasonable. VOG presents the valuations to the Asset Management Private Investment Valuation and Side Pocket Working Group of the Asset Management Valuation Committee (the “Asset Management Private Investment Valuation and Side Pocket Working Group”), which is comprised of a number of representatives from different functions and areas of expertise related to GSAM’s business and controls who are independent of the investment decision making process; (4) The Asset Management Private Investment Valuation and Side Pocket Working Group reviews and preliminarily approves the fair valuations and makes fair valuation recommendations to the Asset Management Valuation Committee; (5) The Asset Management Valuation Committee reviews the valuation information provided by the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. The Asset Management Valuation Committee then assesses such valuation recommendations; and (6) Through the Asset Management Valuation Committee, the Valuation Designee discusses the valuations, provides written reports to the Board of Directors on at least a quarterly basis, and, within the meaning of the Investment Company Act, determines the fair value of the investments in good faith, based on the inputs of the Asset Management Valuation Committee, the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. Payable For Investments Purchased Payable for investments purchased consist of amounts payable by the Company for transactions that have not settled as of the reporting date. Money Market Funds Investments in money market funds are valued at NAV per share. See Note 3 “Significant Agreements and Related Party Transactions.” Cash Cash consists of deposits held at a custodian bank. As of September 30, 2023 and December 31, 2022, the Company held an aggregate cash balance of $ 102,262 and $ 1 . Foreign currency of $ 2,411 and $ 0 (acquisition cost of $ 2,425 and $ 0 ) is included in cash as of September 30, 2023 and December 31, 2022. Foreign Currency Translation Amounts denominated in foreign currencies are translated into US dollars on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into US dollars based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into US dollars based upon currency exchange rates prevailing on the transaction dates. The Company does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included within the net realized and unrealized gains or losses on investments. Fluctuations arising from the translation of non-investment assets and liabilities are included with the net change in unrealized gains (losses) on foreign currency translations in the Consolidated Statements of Operations. Foreign security and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices more volatile than those of comparable U.S. companies or U.S. government securities. Derivatives The Company may enter into foreign currency forward contracts to reduce the Company’s exposure to foreign currency exchange rate fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Company agrees to receive or deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. Forward foreign currency contracts are marked-to-market at the applicable forward rate. Unrealized appreciation (depreciation) on foreign currency forward contracts is recorded by counterparty on a net basis, not taking into account collateral posted which is recorded separately, if applicable. Notional amounts of foreign currency forward contract assets and liabilities are presented separately on the Consolidated Schedules of Investments, as applicable. Purchases and settlements of foreign currency forward contracts having the same settlement date and counterparty are generally settled net and any realized gains or losses are recognized on the settlement date. The Company does not utilize hedge accounting and as such, the Company recognizes its derivatives at fair value with changes in the net unrealized appreciation (depreciation) on foreign currency forward contracts in the Consolidated Statements of Operations. Income Taxes The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense, and any income tax penalties under expenses in the Consolidated Statements of Operations. The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities. The Company intends to elect to be treated as a RIC commencing with its taxable year ended December 31, 2023. So long as the Company maintains its tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any investment company taxable income or net capital gain that it distributes at least annually to its stockholders as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s stockholders and will not be reflected in the consolidated financial statements of the Company. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its stockholders for each taxable year at least 90% of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company , at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to stockholders. The Company will accrue excise tax on estimated undistributed taxable income as required. Distributions Common Shareholders Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce the stockholder’s tax basis in its shares. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent they are charged or credited to paid-in capital in excess of par or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to common stockholders are recorded on the ex-dividend date. The amount to be paid out as a distribution is determined by the Board each month and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its stockholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its stockholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and may carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to stockholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. The Company has adopted a distribution reinvestment plan that provides for reinvestment of all cash distributions declared by the Board unless a stockholder elects to “opt out” of the plan. As a result, if the Board declares a cash distribution, then the stockholders who have not “opted out” of the distribution reinvestment plan will have their cash distributions automatically reinvested in additional Shares, rather than receiving the cash distribution. Stockholders who receive distributions in the form of Shares will generally be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions and, for this purpose, stockholders receiving distributions in the form of stock will generally be treated as receiving distributions equal to the fair market value of the stock received through the plan. However, since the cash distributions of participants in the plan will be reinvested, those stockholders will not receive cash with which to pay any applicable taxes. Preferred Shareholders Before the redemption of the Series A Preferred Stock, the Company was obligated to make distributions to holders of the Series A Preferred Stock semi-annually on or before June 30 and December 31 of each year. Such distributions were payable to holders of record at the close of business on the applicable record date. Pursuant to the terms of the Series A Preferred Stock, such record dates were required to be designated as either the fifteenth day of the calendar month in which the applicable distribution payment date would fall or such other date designated by the Board for the payment of distributions to such preferred stockholders that would not be more than 30 nor less than ten days prior to such distribution payment date. The Company redeemed all of its issued and outstanding shares of Series A Preferred Stock on September 28, 2023. Deferred Financing Costs Deferred financing costs consist of fees and expenses paid in connection with the closing of and amendments to the credit facility with Truist Bank (the “Truist Revolving Credit Facility”) and the credit facility with BNP Paribas (the “BNPP Revolving Credit Facility” and together with the Truist Revolving Credit Facility, the "Revolving Credit Facilities"). These costs are amortized using the straight-line method over the term of the Revolving Credit Facilities. Deferred financing costs related to the Revolving Credit Facilities are presented separately as an asset on the Company’s Consolidated Statements of Assets and Liabilities. Offering Costs Offering costs consist primarily of fees incurred in connection with the Offering, including legal, printing and other costs, as well as costs associated with the preparation of the Company’s registration statement on Form 10. Offering costs are recognized as a deferred charge and are amortized on a straight line basis over 12 months beginning on the Initial Issuance Date. The Investment Adviser agreed to advance all of the offering expenses on behalf of the Company through the Initial Issuance Date. Prior to the Company breaking escrow on the Initial Issuance Date, offering costs did not represent a liability of the Company since the obligation to reimburse the Investment Adviser was conditional on the Company breaking escrow in connection with the Offering and the Investment Adviser requesting reimbursement of offering expenses paid pursuant to the Expense Support and Conditional Reimbursement Agreement (as defined and described below). After the Initial Issuance Date, the Company bears all such expenses. Organization Costs Organization costs include costs relating to the formation and organization of the Company. These costs, which were borne by the Investment Adviser on behalf of the Company through the Initial Issuance Date, are expensed as incurred. The reimbursement of organization expenses was conditional on the Company breaking escrow in connection with the Offering and the Investment Adviser requesting reimbursement of organization expenses paid pursuant to the Expense Support and Conditional Reimbursement Agreement. After the Initial Issuance Date, the Company bears all such expenses. |
Significant Agreements and Rela
Significant Agreements and Related Party Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Significant Agreements and Related Party Transactions | 3. SIGNIFICANT AGREEMENTS AND RELATED PARTY TRANSACTIONS Investment Management Agreement The Company entered into an Investment Management Agreement, effective as of March 20, 2023 (as amended, restated, supplemented or otherwise modified from time to time, the “Investment Management Agreement”), with the Investment Adviser. Pursuant to the terms of the Investment Management Agreement, the Investment Adviser, subject to the overall supervision of the Board of Directors, manages the Company’s day-to-day investment related operations and provides investment management services to the Company. The Company pays the Investment Adviser a fee for its services under the Investment Management Agreement consisting of two components: a management fee (the “Management Fee”) and an incentive fee (the “Incentive Fee”). Subject to applicable law and published SEC guidance, nothing contained in the Investment Management Agreement in any way precludes, restricts or limits the activities of the Investment Adviser or any of its respective subsidiaries or affiliated parties. Management Fee The Management Fee is payable monthly in arrears. The Management Fee is equal to 0.1042 % (i.e., an annual rate of 1.25 %) of the value of the Company's net assets as of the beginning of the first calendar day of the applicable month. For purposes of the Investment Management Agreement, net assets means the Company’s total assets less liabilities determined on a consolidated basis in accordance with GAAP. For the first calendar month in which the Company had operations, net assets was measured as the beginning net assets as of the date on which the Company broke escrow. The Investment Adviser has agreed to waive the Management Fee for the first two fiscal quarters of the Company's operations, commencing on and including the date on which the Company broke escrow for the private offering of the Shares. The Investment Adviser waives a portion of its Management Fee payable by the Company in an amount equal to the management fees it earns as an investment adviser for any affiliated money market funds in which the Company invests. For the three and nine months ended September 30, 2023, Management Fees amounted to $ 2,680 and $ 3,726 and the Investment Adviser waived $ 2,680 and $ 3,726 . As of September 30, 2023, $ 0 remained payable. Incentive Fee The Incentive Fee consists of two components that are independent of each other, with the result that one component may be payable even if the other is not. A portion of the Incentive Fee is based on a percentage of the Company's income and a portion is based on a percentage of the Company's capital gains, each as described below. i. Incentive Fee Based on Income The portion based on the Company's income is based on Pre-Incentive Fee Net Investment Income Returns. “Pre-Incentive Fee Net Investment Income Returns” means, as the context requires, either the dollar value of, or percentage rate of return on the value of the Company's net assets at the end of the immediate preceding quarter from, interest income, dividend income and any other income (including any other fees (other than fees for providing managerial assistance), such as commitment, origination, structuring, diligence and consulting fees or other fees that the Company receives from portfolio companies) accrued during the calendar quarter, minus the Company's operating expenses accrued for the quarter (including the Management Fee and any interest expense or fees on any credit facilities or outstanding debt and distributions paid on any issued and outstanding preferred shares, but excluding the incentive fee and any distribution and/or stockholder servicing fees). Pre-Incentive Fee Net Investment Income Returns include, in the case of investments with a deferred interest feature (such as OID, debt instruments with PIK interest and zero coupon securities), accrued income that the Company have not yet received in cash. Pre-Incentive Fee Net Investment Income Returns do not include any realized capital gains, realized capital losses or unrealized capital appreciation or depreciation. Pre-Incentive Fee Net Investment Income Returns, expressed as a rate of return on the value of the Company's net assets at the end of the immediately preceding quarter, is compared to a “hurdle rate” of return of 1.25 % per quarter ( 5.0 % annualized). The Company will pay the Investment Adviser an incentive fee quarterly in arrears with respect to the Company's Pre-Incentive Fee Net Investment Income Returns in each calendar quarter as follows: • No incentive fee based on Pre-Incentive Fee Net Investment Income Returns in any calendar quarter in which the Company's Pre-Incentive Fee Net Investment Income Returns do not exceed the hurdle rate of 1.25 % per quarter ( 5.0 % annualized); • 100 % of the dollar amount of the Company's Pre-Incentive Fee Net Investment Income Returns with respect to that portion of such Pre-Incentive Fee Net Investment Income Returns, if any, that exceeds the hurdle rate but is less than a rate of return of 1.43 % ( 5.72 % annualized). The Company refers to this portion of the Company's Pre-Incentive Fee Net Investment Income Returns (which exceeds the hurdle rate but is less than 1.43 %) as the “catch-up”; and • 12.5 % of the dollar amount of the Company's Pre-Incentive Fee Net Investment Income Returns, if any, that exceed a rate of return of 1.43 % ( 5.72 % annualized). These calculations are pro-rated for any period of less than three months and adjusted for any share issuances or repurchases during the relevant quarter. The Investment Adviser has agreed to waive the Incentive Fee based on income for the first two fiscal quarters of the Company's operations, commencing on and including the date on which the Company broke escrow for the private offering of the Shares. For the three and nine months ended September 30, 2023, Incentive Fees based on income amounted to $ 2,296 and $ 3,086 and the Investment Adviser waived $ 2,296 and $ 3,086 . ii. Incentive Fee Based on Capital Gains The second component of the Incentive Fee, the capital gains incentive fee, is payable at the end of each calendar year in arrears. The amount payable equals: • 12.5 % of cumulative realized capital gains from inception through the end of such calendar year, computed net of all realized capital losses and unrealized capital depreciation on a cumulative basis, less the aggregate amount of any previously paid incentive fee on capital gains as calculated in accordance with GAAP. Each year, the fee paid for the capital gains incentive fee is net of the aggregate amount of any previously paid capital gains incentive fee for all prior periods. The Company will accrue, but will not pay, a capital gains incentive fee with respect to unrealized appreciation because a capital gains incentive fee would be owed to the Investment Adviser if the Company was to sell the relevant investment and realize a capital gain. The fees that are payable under the Investment Management Agreement for any partial period will be appropriately prorated. For the three and nine months ended September 30, 2023, the Company accrued an Incentive Fee based on capital gains under GAAP of $ 92 and $ 392 , which was not realized. Administration and Custodian Fees The Company has entered into an administration agreement with State Street Bank and Trust Company (the “Administrator”) under which the Administrator provides various accounting and administrative services to the Company. The Company will pay the Administrator fees for its services as the Company determines are commercially reasonable in its sole discretion. The Company will also reimburse the Administrator for all reasonable expenses. To the extent that the Administrator outsources any of its functions, the Administrator pays any compensation associated with such functions. The Administrator also serves as the Company’s custodian (the “Custodian”). For the three and nine months ended September 30, 2023, the Company incurred expenses for services provided by the Administrator and the Custodian of $ 233 and $ 316 . As of September 30, 2023, $ 194 remained payable. For the three months ended September 30, 2022 and for the period from March 25, 2022 (inception) to September 30, 2022, the Company incurred expenses for services provided by the Administrator and the Custodian of $ 0 and $ 0 . Transfer Agent Fees The Company has entered into a transfer agency agreement (the “Transfer Agency Agreement”), with GS & Co. pursuant to which GS & Co. serves as the Company’s transfer agent (“Transfer Agent”), registrar and distribution paying agent. The Company pays the Transfer Agent fees at an annual rate of 0.05 % of the average of the Company’s NAV at the end of the then-current quarter and the prior calendar quarter (and, in the case of the Company’s first quarter, the Company’s NAV as of such quarter-end). For the three and nine months ended September 30, 2023, the Company incurred expenses for services provided by the Transfer Agent of $ 97 and $ 154 . As of September 30, 2023, $ 97 remained payable. For the three months ended September 30, 2022 and for the period from March 25, 2022 (inception) to September 30, 2022, the Company incurred expenses for services provided by the Transfer Agent of $ 0 and $ 0 . Affiliates As of September 30, 2023, affiliates of the Investment Adviser owned 10.1 % of the Shares. As of December 31, 2022 , affiliates of the Investment Adviser owned 100 % of the Company's common units. The table below presents the Company’s affiliated investments: Beginning Fair Value Balance Gross (1) Gross (2) Net Realized Net Change in Ending Dividend, For the Nine Months Ended September 30, 2023 Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund $ — $ 1,161,620 $ ( 1,081,946 ) $ — $ — $ 79,674 $ 2,738 Total Non-Controlled Affiliates $ — $ 1,161,620 $ ( 1,081,946 ) $ — $ — $ 79,674 $ 2,738 (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category. There were no affiliated investments made by the Company for the period ended December 31, 2022. Due to Affiliates The Investment Adviser pays certain general and administrative expenses, including legal expenses, on behalf of the Company in the ordinary course of business. As of September 30, 2023 and December 31, 2022, there were $ 2,266 and $ 0 , respectively, included within Accrued expenses and other liabilities and there were $ 143 and $ 0 , respectively, included within Interest and other debt expenses payable that were paid by the Investment Adviser and its affiliates on behalf of the Company. Co-Investment Activity In certain circumstances, the Company can make negotiated co-investments pursuant to an order from the SEC permitting it to do so. On November 16, 2022, the SEC granted to the Investment Adviser, the BDCs advised by the Investment Adviser and certain other affiliated applicants exemptive relief on which the Company expects to rely to co-invest alongside certain other client accounts managed by the Investment Adviser (collectively with the Company, the “Accounts”), which may include proprietary accounts of Goldman Sachs, in a manner consistent with the Company's investment objectives and strategies, certain Board-established criteria, the conditions of such exemptive relief and other pertinent factors (the “Relief”). Additionally, if the Investment Adviser forms other funds in the future, the Company may co-invest alongside such other affiliates, subject to compliance with the Relief, applicable regulations and regulatory guidance, as well as applicable allocation procedures. As a result of the Relief, there could be significant overlap in the Company’s investment portfolio and the investment portfolios of other Accounts, including, in some cases, proprietary accounts of Goldman Sachs. The Goldman Sachs Asset Management Private Credit Team is composed of investment professionals dedicated to the Company’s investment strategy and to other funds that share a similar investment strategy with the Company. The Goldman Sachs Asset Management Private Credit Team is responsible for identifying investment opportunities, conducting research and due diligence on prospective investments, negotiating and structuring the Company’s investments, and monitoring and servicing the Company’s investments. The team works together with investment professionals who are primarily focused on investment strategies in syndicated, liquid credit. Under the terms of the Relief, a “required majority” (as defined in Section 57(o) of the Investment Company Act) of the Company’s independent directors must make certain conclusions in connection with a co-investment transaction, including that (1) the terms of the proposed transaction are reasonable and fair to the Company and the Company’s stockholders and do not involve overreaching in respect of the Company or its stockholders on the part of any person concerned, and (2) the transaction is consistent with the interests of the Company’s stockholders and is consistent with the then-current investment objectives and strategies of the Company. In addition, the Company has filed an application to amend the Relief to permit the Company to participate in follow-on investments in the Company's existing portfolio companies with certain affiliates covered by the Relief if such affiliates, that are not BDCs or registered investment companies, did not have an investment in such existing portfolio company. There can be no assurance if and when the Company will receive the amended exemptive order. Placement Agent Agreement The Company has entered into an agreement with GS & Co. (the “Placement Agent”), pursuant to which GS & Co. will assist the Company in conducting the Offering. GS & Co. has entered into or will enter into sub-placement agreements (together with the agreement with GS & Co., the “Placement Agent Agreements”) with various sub-placement agents to assist in conducting the Offering. Stockholder servicing and/or distribution fees will be payable to the Placement Agent. The Placement Agent may also be compensated by the Investment Adviser, in its discretion, for certain services, including promotional and marketing support, shareholder servicing, operational and recordkeeping, sub-accounting, networking or administrative services. These payments are made out of the Investment Adviser’s own resources and/or assets, including from the revenues or profits derived from the advisory fees the Investment Adviser receives from the Company. Expense Support and Conditional Reimbursement Agreement The Investment Adviser agreed to advance all of the organization, offering and other operating expenses on behalf of the Company through the Initial Issuance Date. For the three and nine months ended September 30, 2023 and for the three months ended September 30, 2022 and for the period from March 25, 2022 (inception) to September 30, 2022 , the Investment Adviser agreed to advance $ 0 and $ 528 and $ 305 and $ 724 , respectively, which have been included within the Expense support in the Consolidated Statements of Operations. Subsequent to the Initial Issuance Date, expenses incurred prior to the Initial Issuance Date were borne by the Company and have been included within Reimbursable expenses previously borne by Investment Adviser in the Consolidated Statements of Operations. For the three and nine months ended September 30, 2023 , such amounts were $ 0 and $ 1,512 , respectively. In addition, the Company entered into an expense support and conditional reimbursement agreement (the “Expense Support and Conditional Reimbursement Agreement”) with the Investment Adviser. Pursuant to the Expense Support and Conditional Reimbursement Agreement, the Investment Adviser may elect to pay certain of the Company’s expenses on its behalf (each such payment, an “Expense Payment”), provided that no portion of the payment will be used to pay any interest expense or distribution and/or stockholder servicing fees of the Company. Any expense payment must be paid by the Investment Adviser to the Company in any combination of cash or other immediately available funds and/or offset against amounts due from the Company to the Investment Adviser or its affiliates. Following any calendar month in which Available Operating Funds (as defined below) exceed the cumulative distributions accrued to the Company’s stockholders based on distributions declared with respect to record dates occurring in such calendar month (the amount of such excess being hereinafter referred to as “Excess Operating Funds”), the Company will pay such Excess Operating Funds, or a portion thereof, to the Investment Adviser until such time as all expense payments made by the Investment Adviser to the Company within three years prior to the last business day of such calendar month have been reimbursed. Any payments required to be made by the Company will be referred to herein as a “Reimbursement Payment.” “Available Operating Funds” means the sum of (i) the Company’s net investment company income and (ii) dividends and other distributions paid to the Company on account of investments in portfolio companies (to the extent such amounts listed in clause (ii) are not included under clause (i) above). The Company’s obligation to make a Reimbursement Payment will automatically become a liability of the Company on the last business day of the applicable calendar month, except to the extent the Investment Adviser has waived its right to receive such payment for the applicable month, in which case such waived amount will remain as unreimbursed Expense Payments reimbursable in future months. The Investment Adviser has waived its right to receive such payments for the three months ended September 30, 2023. The following table presents a summary of Expense Payments and the related Reimbursement Payments since the Company broke escrow: For the Month Ended Expense Payments by Adviser Reimbursement Payments to Adviser Unreimbursed Expense Payments April 30, 2023 $ 1,552 $ — $ 1,552 May 31, 2023 — — — June 30, 2023 315 — 315 July 31, 2023 722 — 722 August 31, 2023 273 — 273 September 30, 2023 157 — 157 Total $ 3,019 $ — $ 3,019 For the three and nine months ended September 30, 2023, Expense Payments were $ 1,152 and $ 3,019 , respectively, and have been included within Expense support in the Consolidated Statements of Operations. Director Fees Each of the Company’s independent directors is compensated an annual fee of $ 50,000 (or $ 100,000 upon the Company’s NAV being at or above $ 1,500,000,000 ) for his or her services as one of the Company’s directors and as a member of the Audit Committee and Governance and Nominating Committee. The Chairperson receives an additional annual fee of $ 12,500 (or $ 25,000 upon the Company’s NAV being at or above $ 1,500,000,000 ) for his services in such capacity and the director designated as “audit committee financial expert” receives an additional annual fee of $ 7,500 (or $ 15,000 upon the Company’s NAV being at or above $ 1,500,000,000 ) for his services in such capacity. Directors’ fees were borne by the Investment Adviser on behalf of the Company through the Initial Issuance Date. The reimbursement of directors’ fees was conditional on the Company breaking escrow in connection with the Offering and the Investment Adviser requesting reimbursement of organization expenses paid pursuant to the Expense Support and Conditional Reimbursement Agreement. After the Initial Issuance Date, the Company bears all such expenses. |
Investments
Investments | 9 Months Ended |
Sep. 30, 2023 | |
Investments, All Other Investments [Abstract] | |
Investments | 4. INVESTMENTS The Company’s investments (excluding investments in money market funds, if any) consisted of the following: September 30, 2023 Investment Type Cost Fair Value 1st Lien/Senior Secured Debt $ 1,122,890 $ 1,123,211 1st Lien/Last-Out Unitranche 54,419 54,405 2nd Lien/Senior Secured Debt 20,006 20,000 Total investments $ 1,197,315 $ 1,197,616 The industry composition of the Company’s investments as a percentage of fair value and net assets was as follows: September 30, 2023 Industry Fair Value Net Assets Software 22.0 % 24.3 % Diversified Consumer Services 9.6 10.6 Diversified Financial Services 8.6 9.6 Media 7.0 7.8 Wireless Telecommunication Services 4.5 5.0 Health Care Providers & Services 4.4 4.8 Textiles, Apparel & Luxury Goods 4.1 4.6 Distributors 4.1 4.5 Commercial Services & Supplies 4.1 4.5 Automobiles 3.7 4.1 Pharmaceuticals 3.3 3.7 Aerospace & Defense 3.2 3.6 Professional Services 3.2 3.5 Leisure Equipment & Products 2.0 2.3 Oil, Gas & Consumable Fuels 1.8 2.0 Chemicals 1.8 2.0 Building Products 1.4 1.6 Technology Hardware & Equipment 1.3 1.4 Insurance 1.3 1.4 Consumer Retail 1.2 1.4 Containers & Packaging 1.0 1.1 Construction & Engineering 1.0 1.1 IT Services 0.9 1.0 Automobile Components 0.6 0.7 Specialty Retail 0.5 0.5 Household Durables 0.4 0.5 Electric Utilities 0.4 0.5 Entertainment 0.4 0.4 Health Care Equipment & Supplies 0.3 0.4 Machinery 0.3 0.4 Food Products 0.3 0.3 Telecommunications 0.3 0.3 Leisure Products 0.2 0.2 Consumer Staples Distribution & Retail 0.2 0.2 Metals & Mining 0.2 0.2 Semiconductors & Semiconductor Equipment 0.2 0.1 Energy Equipment & Services 0.1 0.1 Ground Transportation 0.1 0.1 Total 100.0 % 110.8 % (1) Amount rounds to less than 0.1%. The geographic composition of the Company’s investments at fair value was as follows: Geographic September 30, 2023 United States 94.7 % Canada 5.3 Total 100.0 % The Company did not hold any investments as of December 31, 2022 . |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 5. FAIR VALUE MEASUREMENT The fair value of a financial instrument is the amount that would be received to sell an asset or would be paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). The Company carries its investments in accordance with ASC 820, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. The fair value hierarchy under ASC 820 prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The levels used for classifying investments are not necessarily an indication of the risk associated with investing in these securities. The three levels of the fair value hierarchy are as follows: Basis of Fair Value Measurement Level 1 – Inputs to the valuation methodology are quoted prices available in active markets for identical instruments as of the reporting date. The types of financial instruments included in Level 1 include unrestricted securities, including equities and derivatives, listed in active markets. Level 2 – Inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date. The types of financial instruments in this category include less liquid and restricted securities listed in active markets, securities traded in other than active markets, government and agency securities and certain over-the-counter derivatives where the fair value is based on observable inputs. Level 3 – Inputs to the valuation methodology are unobservable and significant to overall fair value measurement. The inputs into the determination of fair value require significant management judgment or estimation. Financial instruments that are included in this category include investments in privately held entities and certain over-the-counter derivatives where the fair value is based on unobservable inputs. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Note 2 “Significant Accounting Policies” should be read in conjunction with the information outlined below. The table below presents the valuation techniques and the nature of significant inputs generally used in determining the fair value of Level 2 and Level 3 Instruments. Level 2 Instruments Valuation Techniques and Significant Inputs Equity and Fixed Income The types of instruments that trade in markets that are not considered to be active but are valued based on quoted market prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency include commercial paper, most government agency obligations, most corporate debt securities, certain mortgage-backed securities, certain bank loans, less liquid publicly listed equities, certain state and municipal obligations, certain money market instruments and certain loan commitments. Valuations of Level 2 Equity and Fixed Income instruments can be verified to quoted prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. Consideration is given to the nature of the quotations (e.g. indicative or firm) and the relationship of recent market activity to the prices provided from alternative pricing sources. Derivative Contracts Over-the-counter ("OTC") derivatives (both centrally cleared and bilateral) are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, calibration to market-clearing transactions, broker or dealer quotations, or other alternative pricing sources with reasonable levels of price transparency. Where models are used, the selection of a particular model to value an OTC derivative depends upon the contractual terms of, and specific risks inherent in, the instrument, as well as the availability of pricing information in the market. The Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices, yield curves, credit curves, measures of volatility, voluntary and involuntary prepayment rates, loss severity rates and correlations of such inputs. For OTC derivatives that trade in liquid markets, model inputs can generally be verified and model selection does not involve significant management judgment. OTC derivatives are classified within Level 2 of the fair value hierarchy when significant inputs are corroborated by market evidence. Level 3 Instruments Valuation Techniques and Significant Inputs Bank Loans, Corporate Debt, and Other Debt Obligations Valuations are generally based on discounted cash flow techniques, for which the significant inputs are the amount and timing of expected future cash flows, market yields and recovery assumptions. The significant inputs are generally determined based on relative value analyses, which incorporate comparisons both to credit default swaps that reference the same underlying credit risk and to other debt instruments for the same issuer for which observable prices or broker quotes are available. Other valuation methodologies are used as appropriate including market comparables, transactions in similar instruments and recovery/liquidation analysis. Equity Recent third-party investments or pending transactions are considered to be the best evidence for any change in fair value. When these are not available, the following valuation methodologies are used, as appropriate and available: (i) Transactions in similar instruments; (ii) Discounted cash flow techniques; (iii) Third party appraisals; and (iv) Industry multiples and public comparables. Evidence includes recent or pending reorganizations (for example, merger proposals, tender offers and debt restructurings) and significant changes in financial metrics, including: (i) Current financial performance as compared to projected performance; (ii) Capitalization rates and multiples; and (iii) Market yields implied by transactions of similar or related assets. The table below presents the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of September 30, 2023 . These ranges represent the significant unobservable inputs that were used in the valuation of each type of instrument, but they do not represent a range of values for any one instrument. For example, the lowest discount in 1st Lien/Senior Secured Debt is appropriate for valuing that specific debt investment, but may not be appropriate for valuing any other debt investments in this asset class. Accordingly, the ranges of inputs presented below do not represent uncertainty in, or possible ranges of, fair value measurements of the Company’s Level 3 assets. Level 3 Instruments Fair (1) Valuation (2) Significant Range of Significant (3) Weighted (4) As of September 30, 2023 Bank Loans, Corporate Debt, and Other Debt Obligations 1st Lien/Senior Secured Debt $ 430,858 Discounted cash flows Discount Rate 10.6 % - 15.3 % 11.4 % (1) As of September 30, 2023, included within Level 3 assets of $ 895,357 is an amount of $ 464,499 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $ 430,858 or 48.1 % of Level 3 bank loans, corporate debt, and other debt obligations. (2) The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques. (3) The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. (4) Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment. As noted above, the income approach was used in the determination of fair value of certain Level 3 assets as of September 30, 2023. The significant unobservable inputs used in the income approach are the discount rate or market yield used to discount the estimated future cash flows expected to be received from the underlying investment, which include both future principal and interest payments. An increase in the discount rate or market yield would result in a decrease in the fair value. Included in the consideration and selection of discount rates or market yields is risk of default, rating of the investment, call provisions and comparable company investments. As of December 31, 2022 , the Purchase Agreements (as defined below) were categorized as Level 3 within the fair value hierarchy and had a fair value of $ 0 . As of December 31, 2022 , there were no unobservable inputs developed by the Investment Adviser for any level 3 assets as all Level 3 assets were valued based on contractual terms of the Purchase Agreements. On April 10, 2023, the Warehouse Conditions (as defined below) were met and the Company acquired all of the Portfolio Investments (as defined below) from the Financing Provider (as defined below), resulting in a net realized gain of $ 2,617 . See Note 11 “Warehouse Transaction”. The following is a summary of the Company’s assets categorized within the fair value hierarchy: September 30, 2023 Assets Level 1 Level 2 Level 3 Total 1st Lien/Senior Secured Debt $ — $ 302,259 $ 820,952 $ 1,123,211 1st Lien/Last-Out Unitranche — — 54,405 54,405 2nd Lien/Senior Secured Debt — — 20,000 20,000 Investments in Affiliated Money Market Fund 79,674 — — 79,674 Total $ 79,674 $ 302,259 $ 895,357 $ 1,277,290 The below table presents a summary of changes in fair value of Level 3 assets by investment type: Assets Beginning Purchases (1) Net Net Change in Sales and (1) Net Transfers (2) Transfers (2) Ending Balance Net Change in For the Nine Months Ended September 30, 2023 1st Lien/Senior Secured Debt $ — $ 824,002 $ 2 $ ( 1,248 ) $ ( 2,773 ) $ 969 $ — $ — $ 820,952 $ ( 1,248 ) 1st Lien/Last-Out Unitranche — 54,404 — ( 14 ) — 15 — — 54,405 ( 14 ) 2nd Lien/Senior Secured Debt — 20,000 — ( 6 ) — 6 — — 20,000 ( 6 ) Total assets $ — $ 898,406 $ 2 $ ( 1,268 ) $ ( 2,773 ) $ 990 $ — $ — $ 895,357 $ ( 1,268 ) (1) Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. (2) Transfers in (out) of Level 3, if any, are due to a decrease (increase) in the quantity and reliability of broker quotes obtained by the Investment Adviser. The Company did not hold any investments as of December 31, 2022. Debt Not Carried at Fair Value The fair value of the Company’s debt, which would have been categorized as Level 3 within the fair value hierarchy as of September 30, 2023, approximates its carrying value because the Revolving Credit Facilities have variable interest based on selected short-term rates. The Company did not hold any debt as of December 31, 2022 . |
Debt
Debt | 9 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
Debt | 6. DEBT The Initial Member approved the application of the reduced asset coverage requirements in Section 61(a)(2) of the Investment Company Act to the Company and such election became effective the following day. As a result of this approval, the Company is currently allowed to borrow amounts such that its asset coverage ratio, as defined in the Investment Company Act, is at least 150 % after such borrowing (if certain requirements are met) . As of September 30, 2023, the Company’s asset coverage ratio based on the aggregate amount outstanding of senior securities was 553 %. The Company’s outstanding debt was as follows: September 30, 2023 Aggregate Amount Carrying Truist Revolving Credit Facility (1) $ 775,000 $ 536,314 $ 238,537 BNPP Revolving Credit Facility (2) 200,000 200,000 — Total debt $ 975,000 $ 736,314 $ 238,537 (1) Provides, under certain circumstances, a total borrowing capacity of $ 1,500,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 178,000 , in CAD of CAD 60,685 and in Euro of € 15,000 . (2) Provides, under certain circumstances, a total borrowing capacity of $ 1,000,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 0 . The combined weighted average interest rate of the aggregate borrowings outstanding for the nine months ended September 30, 2023 was 7.27 %. The combined weighted average debt of the aggregate borrowings outstanding for the nine months ended September 30, 2023 was $ 80,281 . Truist Revolving Credit Facility On April 6, 2023, the Company entered into the Truist Revolving Credit Facility with Truist Bank (“Truist”), as administrative agent (the “Administrative Agent”), the lenders and issuing banks party thereto. The Company amended the Truist Revolving Credit Facility on August 9, 2023. The total commitments under the Truist Revolving Credit Facility are $ 775,000 , of which $ 650,000 is under a multicurrency sub-facility and $ 125,000 is under a USD sub-facility as of September 30, 2023. The Truist Revolving Credit Facility also has an accordion feature, subject to the satisfaction of various conditions, which could bring total commitments under the Truist Revolving Credit Facility up to $ 1,500,000 . Any amounts borrowed under the Truist Revolving Credit Facility will mature, and all accrued and unpaid interest will be due and payable, on April 6, 2028. Proceeds from the Truist Revolving Credit Facility may be used for investments, working capital, expenses and general corporate purposes (including to pay distributions). Borrowings thereunder denominated in USD, including amounts drawn in respect of letters of credit, bear interest (at the Company’s election) of either (i) term SOFR plus a margin of either 2.00% or 1.75% (subject to certain gross borrowing base conditions), plus an additional 0.10 % credit adjustment spread, (ii) an alternate base rate, which is the highest of (x) Prime Rate in effect on such day, (y) Federal Funds Effective Rate for such day plus 1/2 of 1.00% and (z) term SOFR for an interest period of one (1) month plus 1.00%, plus a margin of either 1.00% or 0.75% (subject to certain gross borrowing base conditions). Borrowings thereunder denominated in non-USD bear interest of the applicable term benchmark rate or daily simple risk-free rate plus a margin of either 2.00% or 1.75% (subject to certain gross borrowing base conditions), plus, in the case of borrowings denominated in Pound Sterling (GBP) only, an additional 0.0326 % credit adjustment spread or 0.1193 % credit adjustment spread, for 1-month tenor and 3-months tenor borrowings, respectively. With respect to borrowings denominated in USD, the Company may elect either term SOFR or an alternative base rate at the time of borrowing, and such borrowings may be converted from one benchmark to another at any time, subject to certain conditions. The Truist Revolving Credit Facility may be guaranteed by certain of the Company's wholly owned subsidiaries that are formed or acquired by the Company in the future. The Company's obligations to the lenders under the Truist Revolving Credit Facility are secured by a first priority security interest in substantially all of the Company’s portfolio of investments and cash, with certain exceptions. The Truist Revolving Credit Facility contains certain customary covenants, including: (i) maintaining a minimum shareholders’ equity, (ii) maintaining an asset coverage ratio of at least 1.50 to 1 and (iii) restrictions on industry concentrations in the Company’s investment portfolio. As of September 30, 2023, the Company was in compliance with these covenants. The Truist Revolving Credit Facility also includes customary representations and warranties, conditions precedent to funding of draws and events of default (including a change in control event of default trigger). Costs of $ 6,222 were incurred in connection with obtaining and amending the Truist Revolving Credit Facility, which have been recorded as deferred financing costs in the Consolidated Statements of Assets and Liabilities and are being amortized over the life of the Truist Revolving Credit Facility using the straight-line method. As of September 30, 2023, outstanding deferred financing costs were $ 5,629 . The below table presents the summary information of the Truist Revolving Credit Facility: For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Borrowing interest expense $ 1,371 $ 2,847 Facility fees 670 1,260 Amortization of financing costs 310 593 Total $ 2,351 $ 4,700 Weighted average interest rate * 7.46 % 7.27 % Average outstanding balance * $ 72,872 $ 80,281 * Weighted average interest rate and average outstanding debt balance was calculated beginning on April 6, 2023, the date on which the Company entered into the Truist Revolving Credit Facility. BNPP Revolving Credit Facility On September 28, 2023, SPV Public I entered into BNPP Revolving Credit Facility with BNP Paribas (“BNPP”), as administrative agent, State Street Bank and Trust Company, as collateral agent, the Company, as equityholder and investment advisor, and the lenders party thereto. The initial principal amount of the commitments under the BNPP Revolving Credit Facility is $ 200,000 . The BNPP Revolving Credit Facility also has an accordion provision, subject to the satisfaction of various conditions, which could bring total commitments under the BNPP Revolving Credit Facility to $ 1,000,000 . Proceeds from borrowings under the BNPP Revolving Credit Facility may be used to fund portfolio investments by SPV Public I and to make advances under delayed drawdown collateral assets where SPV Public I is a lender. Any amounts outstanding under the BNPP Revolving Credit Facility must be repaid by September 28, 2026. Advances under the BNPP Revolving Credit Facility initially bear interest at a per annum rate equal to 1-month or 3-month Term SOFR plus an applicable margin of 1.80 %. After the expiration of a two-year reinvestment period, the applicable margin on all outstanding advances will be 2.80 % per annum. SPV Public I’s obligations to the lenders under the BNPP Revolving Credit Facility are secured by a first priority security interest in substantially all of SPV Public I’s portfolio investments and cash, subject to liens permitted under the BNPP Revolving Credit Facility. The obligations of SPV Public I under the BNPP Revolving Credit Facility are non-recourse to the Company, and the Company’s exposure under the BNPP Revolving Credit Facility is limited to the value of the Company’s investment in SPV Public I, subject to certain indemnification obligations. The BNPP Revolving Credit Facility also includes customary representations and warranties and is required to comply with various covenants, reporting requirements and other customary requirements for similar facilities. Costs of $ 1,200 were incurred in connection with obtaining the BNPP Revolving Credit Facility, which have been recorded as deferred financing costs in the Consolidated Statements of Assets and Liabilities and are being amortized over the life of the BNPP Revolving Credit Facility using the straight-line method. As of September 30, 2023, outstanding deferred financing costs were $ 1,197 . The below table presents the summary information of the BNPP Revolving Credit Facility: For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Borrowing interest expense $ — $ — Facility fees — — Amortization of financing costs 3 3 Total $ 3 $ 3 Weighted average interest rate * — — Average outstanding balance * $ — $ — * Weighted average interest rate and average outstanding debt balance was calculated beginning on September 28, 2023, the date on which the Company entered into the BNPP Revolving Credit Facility. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 7. COMMITMENTS AND CONTINGENCIES Portfolio Company Commitments The Company may enter into investment commitments to fund investments through signed commitment letters. In many circumstances, borrower acceptance and final terms are subject to transaction-related contingencies. These are disclosed as commitments upon execution of a final agreement. As of September 30, 2023 , the Company believed that it had adequate financial resources to satisfy its unfunded commitments. The Company had the following unfunded commitments by investment types: Unfunded Commitment Balances (1) September 30, 2023 1st Lien/Senior Secured Debt Arrow Buyer, Inc. (dba Archer Technologies) $ 2,037 Bamboo US BidCo LLC (aka Baxter) 8,561 Circustrix Holdings, LLC (dba SkyZone) 4,818 Coretrust Purchasing Group LLC 11,052 Crewline Buyer, Inc. (dba New Relic) 72,313 CST Buyer Company (dba Intoxalock) 4,310 DFS Holding Company, Inc. 5,492 Frontgrade Technologies Holdings Inc. 3,689 Fullsteam Operations LLC 24,362 Groundworks, LLC 1,609 Highfive Dental Holdco, LLC 6,857 Hyland Software, Inc. 4,525 iCIMS, Inc. 10,139 iWave Information Systems, Inc. 2,391 Recochem, Inc 71,949 Recorded Books Inc. (dba RBMedia) 2,691 Rubrik, Inc. 10,744 Singlewire Software, LLC 3,226 Solaris (dba Urology Management Holdings, Inc.) 7,437 Superior Environmental Solutions 2,298 Trader Corporation 3,430 VASA Fitness Buyer, Inc. 3,047 Total 1st Lien/Senior Secured Debt $ 266,977 1st Lien/Last-Out Unitranche Thor FinanceCo LLC (dba Harmoni Towers) $ 28,333 Towerco IV Holdings, LLC 10,055 Total 1st Lien/Last-Out Unitranche $ 38,388 2nd Lien/Senior Secured Debt AWP Group Holdings, Inc. $ 4,546 Total 2nd Lien/Senior Secured Debt $ 4,546 Total $ 309,911 (1) Unfunded commitments denominated in currencies other than USD have been converted to USD using the exchange rate as of the applicable reporting date. The Company had no unfunded commitments as of December 31, 2022. Contingencies In the normal course of business, the Company enters into contracts that provide a variety of general indemnifications. Any exposure to the Company under these arrangements could involve future claims that may be made against the Company. Currently, no such claims exist or are expected to arise and, accordingly, the Company has not accrued any liability in connection with such indemnifications. The Investment Adviser agreed to bear all of the Company’s expenses through the Initial Issuance Date. The Company was obligated to reimburse the Investment Adviser for such advanced expenses upon breaking escrow in connection with the Offering and the Investment Adviser requesting reimbursement of these expenses paid pursuant to the Expense Support and Conditional Reimbursement Agreement. The aggregate amount of organization costs, costs related to Directors’ and Officers’ Liability Insurance, and directors’ fees as of December 31, 2022 was $ 985 , all of which had been borne by the Investment Adviser. The total offering expenses incurred as of December 31, 2022 was $ 1,059 , all of which had been borne by the Investment Adviser. |
Net Assets
Net Assets | 9 Months Ended |
Sep. 30, 2023 | |
Assets [Abstract] | |
Net Assets | 8. NET ASSETS The Company has the authority to issue up to 1,000,000,000 Shares, 1,000,000,000 shares of Class D common stock, par value $ 0.001 per share, 1,000,000,000 shares of Class S common stock, par value $ 0.001 per share, and 1,000,000 shares of preferred stock, par value $ 0.001 per share. Transactions in Shares The following table summarizes the total Shares issued and proceeds related to the Offering: Share Issue Date Shares Issued Proceeds Received For the nine months ended September 30, 2023 April 6, 2023 10,081,173 $ 252,029 May 1, 2023 3,019,897 75,891 June 1, 2023 5,708,842 143,577 July 1, 2023 7,434,246 187,492 August 1, 2023 9,176,536 231,524 September 1, 2023 7,062,817 177,983 Total 42,483,511 $ 1,068,496 There were no Shares issued for the three months ended September 30, 2022 and for the period from March 25, 2022 (inception) to September 30, 2022. Distributions to Common Shareholders The Company has adopted a distribution reinvestment plan (the “DRIP”) that provides for the automatic reinvestment of all cash distributions declared by the Board of Directors, unless a stockholder elects to “opt out” of the DRIP. As a result, if the Board of Directors declares a cash distribution, then the stockholders who have not “opted out” of the DRIP will have their cash distributions automatically reinvested in additional shares of common stock, rather than receiving the cash distribution. If an investor participates in the DRIP, the cash distributions attributable to the class of shares that the investor purchased in our primary offering will be automatically invested in additional shares of the same class. The purchase price for shares purchased under the Company's distribution reinvestment plan will be equal to the most recent available NAV per share for such shares at the time the distribution is payable. The following table summarizes the distributions declared on the Shares and Shares distributed pursuant to the DRIP to stockholders who had not opted out of the DRIP: Date Declared Record Date Payment Date Amount Per Share Shares For the nine months ended September 30, 2023 April 26, 2023 April 28, 2023 May 30, 2023 $ 0.17 26,481 May 3, 2023 May 31, 2023 June 28, 2023 $ 0.21 40,267 May 3, 2023 June 30, 2023 July 28, 2023 $ 0.21 62,222 May 3, 2023 July 31, 2023 August 29, 2023 $ 0.21 93,814 August 2, 2023 August 31, 2023 September 28, 2023 $ 0.21 141,357 August 2, 2023 September 29, 2023 October 30, 2023 $ 0.21 174,596 Series A Preferred Stock On April 6, 2023, the Company issued and sold 515 shares of the Series A Preferred Stock at a price of $ 1,000 per share, resulting in gross proceeds to the Company of $ 515 . The Company redeemed all of the issued and outstanding Series A Preferred Stock on September 28, 2023. Prior to the redemption, the Series A Preferred Stock was senior to all other classes and series of common stock and ranked on parity with any other class or series of preferred stock, whether such class or series would be created in the future. The Series A Preferred Stock was subject to redemption at any time by notice of such redemption on a date selected by the Company. The shares of the Series A Preferred Stock were entitled to a liquidation preference of $ 1,000 per share (the “Liquidation Value”), plus any accrued but unpaid distributions and any applicable redemption premium. Distributions on each share of the Series A Preferred Stock were payable semiannually on June 30 and December 31 of each year and accrued at a rate of 12.0 % per annum on the Liquidation Value thereof plus all accumulated and unpaid distributions thereon. Holders of shares of the Series A Preferred Stock would not participate in any appreciation in the value of the Company. Share Repurchase Program Beginning no later than the first full calendar quarter from the date on which the Company broke escrow in connection with the Offering, and at the discretion of the Board of Directors, the Company intends to commence a share repurchase program in which the Company intends to repurchase, in each quarter, up to 5 % of the Company’s Shares outstanding (by number of shares) as of the close of the previous calendar quarter. The Board of Directors may amend, suspend or terminate the share repurchase program if it deems such action to be in the best interest of the Company and the best interest of the Company’s shareholders. As a result, share repurchases may not be available each quarter. The Company intends to conduct such repurchase offers in accordance with the requirements of Rule 13e-4 promulgated under the Securities Exchange Act of 1934, as amended, and the Investment Company Act. All Shares purchased pursuant to the terms of each tender offer will be retired and thereafter will be authorized and unissued shares. Under the share repurchase plan, to the extent the Company offers to repurchase shares in any particular quarter, it is expected that the Company will repurchase Shares pursuant to tender offers as of the last calendar day of that quarter using a purchase price equal to the NAV per Share as of the last calendar day of the applicable quarter, except that Shares that have not been outstanding for at least one year will be repurchased at 98 % of such NAV (an “Early Repurchase Deduction”). The one-year holding period is measured as of the subscription closing date immediately following the prospective repurchase date and does not include shares received under the DRIP. The Early Repurchase Deduction may be waived by the Company in accordance with the share repurchase plan. The Early Repurchase Deduction will be retained by the Company for the benefit of remaining shareholders. There were no repurchases of the Shares for the three months ended September 30, 2023 . |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | 9. EARNINGS PER COMMON SHARE The following information sets forth the computation of basic and diluted earnings per Share: For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Net increase in net assets from operations $ 22,762 $ 34,057 Weighted average shares outstanding 34,868,960 24,905,773 Basic and diluted earnings (loss) per share $ 0.65 $ 1.37 Diluted earnings per share equal basic earnings per share because there were no common stock equivalents outstanding during the periods presented. There were no Shares outstanding for the three months ended September 30, 2022 and for the period from March 25, 2022 (inception) to September 30, 2022 . |
Financial Highlights
Financial Highlights | 9 Months Ended |
Sep. 30, 2023 | |
Statement of Financial Position [Abstract] | |
Financial Highlights | 10. FINANCIAL HIGHLIGHTS The below table presents the schedule of financial highlights of the Company: For the Nine Months Ended September 30, 2023 Per Common Share Data: (1) NAV, beginning of period $ 25.00 Net investment income 1.24 Net realized and unrealized gains (losses) (2) 0.21 Net increase in net assets from operations (2) $ 1.45 Distributions to common shareholders ( 1.22 ) Distributions to preferred shareholders — (3) Total increase in net assets $ 0.23 NAV, end of period $ 25.23 Shares outstanding, end of period 42,847,652 Weighted average shares outstanding 24,905,773 Total return based on NAV (4) 5.92 % Supplemental Data/Ratio (5) : Net assets, end of period $ 1,081,208 Ratio of net expenses to average net assets 3.52 % Ratio of expenses (without incentive fees and interest and other debt expenses) to average net assets 1.40 % Ratio of interest and other debt expenses to average net assets 1.54 % Ratio of incentive fees to average net assets 0.58 % Ratio of total expenses to average net assets 5.18 % Ratio of net investment income to average net assets 8.77 % Portfolio turnover 1 % (1) The per share data was derived by using the weighted average Shares outstanding during the applicable period that the Shares were outstanding, except for distributions declared, which reflects the actual amount per Share for the applicable period. (2) The amount shown may not correspond for the period as it includes the effect of the timing of Share issuances and distributions. (3) Amount rounds to less than $0.01. (4) Calculated as the change in NAV per share during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s DRIP. (5) Ratios are annualized, except for, as applicable, fee waivers, expense support, reimbursable expenses previously borne by Investment Adviser, unvested Incentive Fees, organization costs and Series A Preferred Stock redemption premium. NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity. There were no Shares outstanding for the period from March 25, 2022 (inception) to September 30, 2022 . |
Warehouse Transaction
Warehouse Transaction | 9 Months Ended |
Sep. 30, 2023 | |
Assets [Abstract] | |
Warehouse Transaction | 11. WAREHOUSE TRANSACTION Beginning August 25, 2022, the Company entered into multiple purchase agreements (as amended, the “Purchase Agreements”) with Macquarie Bank Limited (the “Financing Provider”) and an affiliate of the Investment Adviser. Under the Purchase Agreements, the Company had forward arrangements to settle the purchase of certain investments (the “Portfolio Investments”) from the Financing Provider, who was obligated to settle the sale of such investments subject to the following conditions (the “Warehouse Conditions”); (a) that the Company had received subscriptions of at least $ 200,000,000 ; and (b) that the Board of Directors had approved the purchase of the specific investment or investments. The Company’s obligations to the Financing Provider under the Purchase Agreements were guaranteed by an affiliate of the Investment Adviser. Prior to the satisfaction of the Warehouse Conditions, an affiliate of the Investment Adviser was the primary obligor of the Purchase Agreements. The Portfolio Investments primarily consisted of newly originated, privately negotiated senior secured term loans to middle market companies consistent with the Company’s investment strategy. On April 10, 2023, the Warehouse Conditions were met and the Company acquired all of the Portfolio Investments from the Financing Provider pursuant to the terms of the Purchase Agreements. The Company acquired aggregate par amounts denominated in USD of $ 407,004 and in CAD of CAD 66,771 from the Financing Provider, resulting in a net realized gain of $ 2,617 . |
Subsequent Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | 12. SUBSEQUENT EVENTS Subsequent events after the date of the Consolidated Statements of Assets and Liabilities have been evaluated through the date the unaudited consolidated financial statements were issued. Other than the items discussed below, the Company has concluded that there is no impact requiring adjustment or disclosure in the consolidated financial statements. October and November Subscriptions On October 1, 2023, the Company received $ 137,495 of proceeds relating to the issuance of 5,449,648 Shares. Included in the aforementioned proceeds is $ 8,550 that the Company received from affiliates of the Investment Adviser. On November 1, 2023, the Company received $ 167,298 of proceeds relating to an issuance of Shares. Included in the aforementioned proceeds is $ 37,812 that the Company received from an affiliate of the Investment Adviser. Certificate of Elimination Following the redemption of all of the Company’s issued and outstanding shares of Series A Preferred Stock on September 28, 2023, the Company filed a Certificate of Elimination of 12.0 % Series A Cumulative Preferred Stock (the “Certificate of Elimination”) on November 3, 2023, which eliminated, removed and canceled the Certificate of Designation of 12.0 % Series A Cumulative Preferred Stock, including all of the rights, preferences, privileges and other matters set forth therein, from the Company’s Certificate of Incorporation. The Certificate of Elimination became effective upon the filing thereof with the Secretary of State of the State of Delaware on November 3, 2023. In accordance with Section 151(g) of the Delaware General Corporation Law, the shares that were designated as Series A Preferred Stock were returned to the status of authorized and unissued shares of the Company’s preferred stock, without designation as to series, under the Company’s Certificate of Incorporation. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The Company’s functional currency is USD and these consolidated financial statements have been prepared in that currency. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to Regulation S-X. This requires the Company to make certain estimates and assumptions that may affect the amounts reported in the consolidated financial statements and accompanying notes. These consolidated financial statements reflect normal and recurring adjustments that in the opinion of the Company are necessary for the fair statement of the results for the periods presented. Actual results may differ from the estimates and assumptions included in the consolidated financial statements. Certain financial information that is included in annual consolidated financial statements, including certain financial statement disclosures, prepared in accordance with GAAP, is not required for interim reporting purposes and has been condensed or omitted herein. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes related thereto for the period from March 25, 2022 (inception) to December 31, 2022, included in the Company’s Amendment No. 1 to its Registration Statement on Form 10, which was filed with the SEC on May 18, 2023. The results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full fiscal year, any other interim period or any future year or period. As an investment company, the Company applies the accounting and reporting guidance in Accounting Standards Codification (“ASC”) Topic 946, Financial Services – Investment Companies (“ASC 946”) issued by the Financial Accounting Standards Board (“FASB”). |
Basis of Consolidation | Basis of Consolidation As provided under ASC 946, the Company will not consolidate its investment in a company other than an investment company subsidiary or a controlled operating company whose business consists of providing services to the Company. Accordingly, the Company consolidated the financial position and results of operations of its wholly owned subsidiary, GS Private Credit SPV Public I LLC (“SPV Public I”) . All significant intercompany transactions and balances have been eliminated in consolidation. |
Revenue Recognition | Revenue Recognition The Company records its investment transactions on a trade date basis, which is the date when the Company assumes the risks for gains and losses related to that instrument. Realized gains and losses are based on the specific identification method. Interest income, adjusted for amortization of premium and accretion of discount, is recorded on an accrual basis. Discounts and premiums to par value on investments purchased are accreted and amortized into interest income over the life of the respective investment using the effective interest method. Loan origination fees, original issue discount (“OID”) and market discounts or premiums are capitalized and amortized into interest income using the effective interest method or straight-line method, as applicable. Exit fees that are receivable upon repayment of a loan or debt security are amortized into interest income over the life of the respective investment. Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income. For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Accelerated amortization of upfront loan origination fees and unamortized discounts $ 35 $ 60 Fees received from portfolio companies (directors’ fees, consulting fees, administrative fees, tax advisory fees and other similar compensation) are paid to the Company, unless, to the extent required by applicable law or exemptive relief, if any, therefrom, the Company only receives its allocable portion of such fees when invested in the same portfolio company as another Account (as defined below) managed by the Investment Adviser. Dividend income on preferred equity investments is recorded on an accrual basis to the extent that such amounts are payable by the portfolio company and are expected to be collected. Dividend income on common equity investments is recorded on the record date for private portfolio companies and on the ex-dividend date for publicly traded portfolio companies. Interest and dividend income are presented net of withholding tax, if any. Certain investments may have contractual payment-in-kind (“PIK”) interest or dividends. PIK represents accrued interest or accumulated dividends that are added to the principal amount or shares (if equity) of the investment on the respective interest or dividend payment dates rather than being paid in cash and generally becomes due at maturity or upon the investment being called by the issuer. PIK is recorded as interest or dividend income, as applicable. If at any point the Company believes PIK is not expected to be realized, the investment generating PIK will be placed on non-accrual status. When a PIK investment is placed on non-accrual status, the accrued, uncapitalized interest or dividends are generally reversed through interest or dividend income, respectively. Certain structuring fees, amendment fees, syndication fees and commitment fees are recorded as other income when earned. Administrative agent fees received by the Company are recorded as other income when the services are rendered over time. |
Non-Accrual Investments | Non-Accrual Investments Investments are placed on non-accrual status when it is probable that principal, interest or dividends will not be collected according to the applicable contractual terms. Accrued interest or dividends generally are reversed when an investment is placed on non-accrual status. Interest or dividend payments received on non-accrual investments may be recognized as income or applied to principal depending upon management’s judgment. Non-accrual investments are restored to accrual status when past due principal and interest or dividends are paid and, in management’s judgment, principal and interest or dividend payments are likely to remain current. The Company may make exceptions to this treatment if an investment has sufficient collateral value and is in the process of collection. As of September 30, 2023 and December 31, 2022 , the Company did not have any investments on non-accrual status. |
Investments | Investments The Company carries its investments in accordance with ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”), issued by the FASB, which defines fair value, establishes a framework for measuring fair value and requires disclosures about fair value measurements. Fair value is generally based on quoted market prices provided by independent price sources. In the absence of quoted market prices, investments are measured at fair value as determined by the Investment Adviser, as the valuation designee ("Valuation Designee") designated by the board of directors of the Company (the “Board of Directors” or “Board”), pursuant to Rule 2a-5 under the Investment Company Act. Due to the inherent uncertainties of valuation, certain estimated fair values may differ significantly from the values that would have been realized had a ready market for these investments existed, and these differences could be material. See Note 5 “Fair Value Measurement.” The Company generally invests in illiquid securities, including debt and equity investments, of middle-market companies. The Board of Directors has designated to the Investment Adviser day-to-day responsibilities for implementing and maintaining internal controls and procedures related to the valuation of the Company’s portfolio investments. Under valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, market quotations are generally used to assess the value of the investments for which market quotations are readily available (as defined in Rule 2a-5). The Investment Adviser obtains these market quotations from independent pricing sources. If market quotations are not readily available, the Investment Adviser prices securities at the bid prices obtained from at least two brokers or dealers, if available; otherwise, the Investment Adviser obtains prices from a principal market maker or a primary market dealer. To assess the continuing appropriateness of pricing sources and methodologies, the Investment Adviser regularly performs price verification procedures and issues challenges as necessary to independent pricing sources or brokers, and any differences are reviewed in accordance with the valuation procedures. If the Valuation Designee believes any such market quotation does not reflect the fair value of an investment, it may independently value such investment in accordance with valuation procedures for investments for which market quotations are not readily available. With respect to investments for which market quotations are not readily available, or for which market quotations are deemed not reflective of the fair value, the valuation procedures approved by the Board of Directors and adopted by the Valuation Designee, contemplate a multi-step valuation process conducted by the Investment Adviser each quarter and more frequently as needed. As the Valuation Designee, the Investment Adviser is primarily responsible for the valuation of the Company’s assets, subject to the oversight of the Board of Directors, as described below: (1) The quarterly valuation process begins with each portfolio company or investment being initially valued by the investment professionals of the Investment Adviser responsible for the valuation of the portfolio investment; (2) The Valuation Designee also engages independent valuation firms (the “Independent Valuation Advisors”) to provide independent valuations of the investments for which market quotations are not readily available or are readily available but deemed not reflective of the fair value of an investment. The Independent Valuation Advisors independently value such investments using quantitative and qualitative information. The Independent Valuation Advisors also provide analyses to support their valuation methodology and calculations. The Independent Valuation Advisors provide an opinion on a final range of values on such investments to the Valuation Designee. The Independent Valuation Advisors define fair value in accordance with ASC 820 and utilize valuation approaches including the market approach, the income approach or both. A portion of the portfolio is reviewed on a quarterly basis, and all investments in the portfolio for which market quotations are not readily available, or are readily available, but deemed not reflective of the fair value of an investment, are reviewed at least annually by an Independent Valuation Advisor; (3) The Independent Valuation Advisors’ preliminary valuations are reviewed by the Investment Adviser and the Valuation Oversight Group (“VOG”), a team that is part of the controllers group of Goldman Sachs. The Independent Valuation Advisors’ valuation ranges are compared to the Investment Adviser’s valuations to ensure the Investment Adviser’s valuations are reasonable. VOG presents the valuations to the Asset Management Private Investment Valuation and Side Pocket Working Group of the Asset Management Valuation Committee (the “Asset Management Private Investment Valuation and Side Pocket Working Group”), which is comprised of a number of representatives from different functions and areas of expertise related to GSAM’s business and controls who are independent of the investment decision making process; (4) The Asset Management Private Investment Valuation and Side Pocket Working Group reviews and preliminarily approves the fair valuations and makes fair valuation recommendations to the Asset Management Valuation Committee; (5) The Asset Management Valuation Committee reviews the valuation information provided by the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. The Asset Management Valuation Committee then assesses such valuation recommendations; and (6) Through the Asset Management Valuation Committee, the Valuation Designee discusses the valuations, provides written reports to the Board of Directors on at least a quarterly basis, and, within the meaning of the Investment Company Act, determines the fair value of the investments in good faith, based on the inputs of the Asset Management Valuation Committee, the Asset Management Private Investment Valuation and Side Pocket Working Group, the VOG, the investment professionals of the Investment Adviser responsible for valuations, and the Independent Valuation Advisors. |
Payable For Investments Purchased | Payable For Investments Purchased Payable for investments purchased consist of amounts payable by the Company for transactions that have not settled as of the reporting date. |
Money Market Funds | Money Market Funds Investments in money market funds are valued at NAV per share. See Note 3 “Significant Agreements and Related Party Transactions.” |
Cash | Cash Cash consists of deposits held at a custodian bank. As of September 30, 2023 and December 31, 2022, the Company held an aggregate cash balance of $ 102,262 and $ 1 . Foreign currency of $ 2,411 and $ 0 (acquisition cost of $ 2,425 and $ 0 ) is included in cash as of September 30, 2023 and December 31, 2022. |
Foreign Currency Translation | Foreign Currency Translation Amounts denominated in foreign currencies are translated into US dollars on the following basis: (i) investments and other assets and liabilities denominated in foreign currencies are translated into US dollars based upon currency exchange rates effective on the last business day of the period; and (ii) purchases and sales of investments, borrowings and repayments of such borrowings, income, and expenses denominated in foreign currencies are translated into US dollars based upon currency exchange rates prevailing on the transaction dates. The Company does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included within the net realized and unrealized gains or losses on investments. Fluctuations arising from the translation of non-investment assets and liabilities are included with the net change in unrealized gains (losses) on foreign currency translations in the Consolidated Statements of Operations. Foreign security and currency translations may involve certain considerations and risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, currency fluctuations and revaluations and future adverse political, social and economic developments, which could cause investments in foreign markets to be less liquid and prices more volatile than those of comparable U.S. companies or U.S. government securities. |
Derivatives | Derivatives The Company may enter into foreign currency forward contracts to reduce the Company’s exposure to foreign currency exchange rate fluctuations in the value of foreign currencies. In a foreign currency forward contract, the Company agrees to receive or deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. Forward foreign currency contracts are marked-to-market at the applicable forward rate. Unrealized appreciation (depreciation) on foreign currency forward contracts is recorded by counterparty on a net basis, not taking into account collateral posted which is recorded separately, if applicable. Notional amounts of foreign currency forward contract assets and liabilities are presented separately on the Consolidated Schedules of Investments, as applicable. Purchases and settlements of foreign currency forward contracts having the same settlement date and counterparty are generally settled net and any realized gains or losses are recognized on the settlement date. The Company does not utilize hedge accounting and as such, the Company recognizes its derivatives at fair value with changes in the net unrealized appreciation (depreciation) on foreign currency forward contracts in the Consolidated Statements of Operations. |
Income Taxes | Income Taxes The Company recognizes tax positions in its consolidated financial statements only when it is more likely than not that the position will be sustained upon examination by the relevant taxing authority based on the technical merits of the position. A position that meets this standard is measured at the largest amount of benefit that will more likely than not be realized upon settlement. The Company reports any interest expense related to income tax matters in income tax expense, and any income tax penalties under expenses in the Consolidated Statements of Operations. The Company’s tax positions have been reviewed based on applicable statutes of limitation for tax assessments, which may vary by jurisdiction, and based on such review, the Company has concluded that no additional provision for income tax is required in the consolidated financial statements. The Company is subject to potential examination by certain taxing authorities in various jurisdictions. The Company’s tax positions are subject to ongoing interpretation of laws and regulations by taxing authorities. The Company intends to elect to be treated as a RIC commencing with its taxable year ended December 31, 2023. So long as the Company maintains its tax treatment as a RIC, it will generally not be required to pay corporate-level U.S. federal income tax on any investment company taxable income or net capital gain that it distributes at least annually to its stockholders as dividends. As a result, any U.S. federal income tax liability related to income earned and distributed by the Company represents obligations of the Company’s stockholders and will not be reflected in the consolidated financial statements of the Company. To maintain its tax treatment as a RIC, the Company must meet specified source-of-income and asset diversification requirements and timely distribute to its stockholders for each taxable year at least 90% of its investment company taxable income (generally, its net ordinary income plus the excess of its realized net short-term capital gains over realized net long-term capital losses, determined without regard to the dividends paid deduction). In order for the Company not to be subject to U.S. federal excise taxes, it must distribute annually an amount at least equal to the sum of (i) 98% of its net ordinary income (taking into account certain deferrals and elections) for the calendar year, (ii) 98.2% of its capital gains in excess of capital losses for the one-year period ending on October 31 of the calendar year and (iii) any net ordinary income and capital gains in excess of capital losses for preceding years that were not distributed during such years. The Company , at its discretion, may carry forward taxable income in excess of calendar year dividends and pay a 4% nondeductible U.S. federal excise tax on this income. If the Company chooses to do so, this generally would increase expenses and reduce the amount available to be distributed to stockholders. The Company will accrue excise tax on estimated undistributed taxable income as required. |
Distributions | Distributions Common Shareholders Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined in accordance with GAAP. The Company may pay distributions in excess of its taxable net investment income. This excess would be a tax-free return of capital in the period and reduce the stockholder’s tax basis in its shares. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent they are charged or credited to paid-in capital in excess of par or distributable earnings, as appropriate, in the period that the differences arise. Temporary and permanent differences are primarily attributable to differences in the tax treatment of certain loans and the tax characterization of income and non-deductible expenses. These differences are generally determined in conjunction with the preparation of the Company’s annual RIC tax return. Distributions to common stockholders are recorded on the ex-dividend date. The amount to be paid out as a distribution is determined by the Board each month and is generally based upon the earnings estimated by the Investment Adviser. The Company may pay distributions to its stockholders in a year in excess of its net ordinary income and capital gains for that year and, accordingly, a portion of such distributions may constitute a return of capital for U.S. federal income tax purposes. The Company intends to timely distribute to its stockholders substantially all of its annual taxable income for each year, except that the Company may retain certain net capital gains for reinvestment and may carry forward taxable income for distribution in the following year and pay any applicable tax. The specific tax characteristics of the Company’s distributions will be reported to stockholders after the end of the calendar year. All distributions will be subject to available funds, and no assurance can be given that the Company will be able to declare such distributions in future periods. The Company has adopted a distribution reinvestment plan that provides for reinvestment of all cash distributions declared by the Board unless a stockholder elects to “opt out” of the plan. As a result, if the Board declares a cash distribution, then the stockholders who have not “opted out” of the distribution reinvestment plan will have their cash distributions automatically reinvested in additional Shares, rather than receiving the cash distribution. Stockholders who receive distributions in the form of Shares will generally be subject to the same U.S. federal, state and local tax consequences as if they received cash distributions and, for this purpose, stockholders receiving distributions in the form of stock will generally be treated as receiving distributions equal to the fair market value of the stock received through the plan. However, since the cash distributions of participants in the plan will be reinvested, those stockholders will not receive cash with which to pay any applicable taxes. Preferred Shareholders Before the redemption of the Series A Preferred Stock, the Company was obligated to make distributions to holders of the Series A Preferred Stock semi-annually on or before June 30 and December 31 of each year. Such distributions were payable to holders of record at the close of business on the applicable record date. Pursuant to the terms of the Series A Preferred Stock, such record dates were required to be designated as either the fifteenth day of the calendar month in which the applicable distribution payment date would fall or such other date designated by the Board for the payment of distributions to such preferred stockholders that would not be more than 30 nor less than ten days prior to such distribution payment date. The Company redeemed all of its issued and outstanding shares of Series A Preferred Stock on September 28, 2023. |
Deferred Financing Costs | Deferred Financing Costs Deferred financing costs consist of fees and expenses paid in connection with the closing of and amendments to the credit facility with Truist Bank (the “Truist Revolving Credit Facility”) and the credit facility with BNP Paribas (the “BNPP Revolving Credit Facility” and together with the Truist Revolving Credit Facility, the "Revolving Credit Facilities"). These costs are amortized using the straight-line method over the term of the Revolving Credit Facilities. Deferred financing costs related to the Revolving Credit Facilities are presented separately as an asset on the Company’s Consolidated Statements of Assets and Liabilities. |
Offering costs | Offering Costs Offering costs consist primarily of fees incurred in connection with the Offering, including legal, printing and other costs, as well as costs associated with the preparation of the Company’s registration statement on Form 10. Offering costs are recognized as a deferred charge and are amortized on a straight line basis over 12 months beginning on the Initial Issuance Date. The Investment Adviser agreed to advance all of the offering expenses on behalf of the Company through the Initial Issuance Date. Prior to the Company breaking escrow on the Initial Issuance Date, offering costs did not represent a liability of the Company since the obligation to reimburse the Investment Adviser was conditional on the Company breaking escrow in connection with the Offering and the Investment Adviser requesting reimbursement of offering expenses paid pursuant to the Expense Support and Conditional Reimbursement Agreement (as defined and described below). After the Initial Issuance Date, the Company bears all such expenses. |
Organization Costs | Organization Costs Organization costs include costs relating to the formation and organization of the Company. These costs, which were borne by the Investment Adviser on behalf of the Company through the Initial Issuance Date, are expensed as incurred. The reimbursement of organization expenses was conditional on the Company breaking escrow in connection with the Offering and the Investment Adviser requesting reimbursement of organization expenses paid pursuant to the Expense Support and Conditional Reimbursement Agreement. After the Initial Issuance Date, the Company bears all such expenses. |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Interest Income | Upon prepayment of a loan or debt security, any prepayment premiums, unamortized upfront loan origination fees and unamortized discounts are recorded as interest income. For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Accelerated amortization of upfront loan origination fees and unamortized discounts $ 35 $ 60 |
Significant Agreements and Re_2
Significant Agreements and Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of Affiliated Investments | The table below presents the Company’s affiliated investments: Beginning Fair Value Balance Gross (1) Gross (2) Net Realized Net Change in Ending Dividend, For the Nine Months Ended September 30, 2023 Non-Controlled Affiliates Goldman Sachs Financial Square Government Fund $ — $ 1,161,620 $ ( 1,081,946 ) $ — $ — $ 79,674 $ 2,738 Total Non-Controlled Affiliates $ — $ 1,161,620 $ ( 1,081,946 ) $ — $ — $ 79,674 $ 2,738 (1) Gross additions may include increases in the cost basis of investments resulting from new portfolio investments, PIK, the accretion of discounts, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company into this category from a different category. (2) Gross reductions may include decreases in the cost basis of investments resulting from principal collections related to investment repayments or sales, the exchange of one or more existing securities for one or more new securities and the movement of an existing portfolio company out of this category into a different category. |
Schedule of Expense Payments and Related Reimbursement Payments | The following table presents a summary of Expense Payments and the related Reimbursement Payments since the Company broke escrow: For the Month Ended Expense Payments by Adviser Reimbursement Payments to Adviser Unreimbursed Expense Payments April 30, 2023 $ 1,552 $ — $ 1,552 May 31, 2023 — — — June 30, 2023 315 — 315 July 31, 2023 722 — 722 August 31, 2023 273 — 273 September 30, 2023 157 — 157 Total $ 3,019 $ — $ 3,019 |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Investments, All Other Investments [Abstract] | |
Schedule of Investments Excluding Investments in Money Market Funds | The Company’s investments (excluding investments in money market funds, if any) consisted of the following: September 30, 2023 Investment Type Cost Fair Value 1st Lien/Senior Secured Debt $ 1,122,890 $ 1,123,211 1st Lien/Last-Out Unitranche 54,419 54,405 2nd Lien/Senior Secured Debt 20,006 20,000 Total investments $ 1,197,315 $ 1,197,616 |
Schedule of Investments as a Percentage of Fair Value and Net Asset | The industry composition of the Company’s investments as a percentage of fair value and net assets was as follows: September 30, 2023 Industry Fair Value Net Assets Software 22.0 % 24.3 % Diversified Consumer Services 9.6 10.6 Diversified Financial Services 8.6 9.6 Media 7.0 7.8 Wireless Telecommunication Services 4.5 5.0 Health Care Providers & Services 4.4 4.8 Textiles, Apparel & Luxury Goods 4.1 4.6 Distributors 4.1 4.5 Commercial Services & Supplies 4.1 4.5 Automobiles 3.7 4.1 Pharmaceuticals 3.3 3.7 Aerospace & Defense 3.2 3.6 Professional Services 3.2 3.5 Leisure Equipment & Products 2.0 2.3 Oil, Gas & Consumable Fuels 1.8 2.0 Chemicals 1.8 2.0 Building Products 1.4 1.6 Technology Hardware & Equipment 1.3 1.4 Insurance 1.3 1.4 Consumer Retail 1.2 1.4 Containers & Packaging 1.0 1.1 Construction & Engineering 1.0 1.1 IT Services 0.9 1.0 Automobile Components 0.6 0.7 Specialty Retail 0.5 0.5 Household Durables 0.4 0.5 Electric Utilities 0.4 0.5 Entertainment 0.4 0.4 Health Care Equipment & Supplies 0.3 0.4 Machinery 0.3 0.4 Food Products 0.3 0.3 Telecommunications 0.3 0.3 Leisure Products 0.2 0.2 Consumer Staples Distribution & Retail 0.2 0.2 Metals & Mining 0.2 0.2 Semiconductors & Semiconductor Equipment 0.2 0.1 Energy Equipment & Services 0.1 0.1 Ground Transportation 0.1 0.1 Total 100.0 % 110.8 % (1) Amount rounds to less than 0.1%. |
Schedule of Geographic Composition of Investments at Fair Value | The geographic composition of the Company’s investments at fair value was as follows: Geographic September 30, 2023 United States 94.7 % Canada 5.3 Total 100.0 % The Company did not hold any investments as of December 31, 2022 . |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets | The table below presents the ranges of significant unobservable inputs used to value the Company’s Level 3 assets as of September 30, 2023 . Level 3 Instruments Fair (1) Valuation (2) Significant Range of Significant (3) Weighted (4) As of September 30, 2023 Bank Loans, Corporate Debt, and Other Debt Obligations 1st Lien/Senior Secured Debt $ 430,858 Discounted cash flows Discount Rate 10.6 % - 15.3 % 11.4 % (1) As of September 30, 2023, included within Level 3 assets of $ 895,357 is an amount of $ 464,499 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $ 430,858 or 48.1 % of Level 3 bank loans, corporate debt, and other debt obligations. (2) The fair value of any one instrument may be determined using multiple valuation techniques. For example, market comparable and discounted cash flows may be used together to determine fair value. Therefore, the Level 3 balance encompasses both of these techniques. (3) The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. (4) Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment. |
Summary of Assets Categorized Within Fair Value Hierarchy | The following is a summary of the Company’s assets categorized within the fair value hierarchy: September 30, 2023 Assets Level 1 Level 2 Level 3 Total 1st Lien/Senior Secured Debt $ — $ 302,259 $ 820,952 $ 1,123,211 1st Lien/Last-Out Unitranche — — 54,405 54,405 2nd Lien/Senior Secured Debt — — 20,000 20,000 Investments in Affiliated Money Market Fund 79,674 — — 79,674 Total $ 79,674 $ 302,259 $ 895,357 $ 1,277,290 |
Summary of Changes in Fair Value of Level 3 Assets By Investment Type | The below table presents a summary of changes in fair value of Level 3 assets by investment type: Assets Beginning Purchases (1) Net Net Change in Sales and (1) Net Transfers (2) Transfers (2) Ending Balance Net Change in For the Nine Months Ended September 30, 2023 1st Lien/Senior Secured Debt $ — $ 824,002 $ 2 $ ( 1,248 ) $ ( 2,773 ) $ 969 $ — $ — $ 820,952 $ ( 1,248 ) 1st Lien/Last-Out Unitranche — 54,404 — ( 14 ) — 15 — — 54,405 ( 14 ) 2nd Lien/Senior Secured Debt — 20,000 — ( 6 ) — 6 — — 20,000 ( 6 ) Total assets $ — $ 898,406 $ 2 $ ( 1,268 ) $ ( 2,773 ) $ 990 $ — $ — $ 895,357 $ ( 1,268 ) (1) Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. (2) Transfers in (out) of Level 3, if any, are due to a decrease (increase) in the quantity and reliability of broker quotes obtained by the Investment Adviser. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Debt Instrument [Line Items] | |
Schedule of Outstanding Debt | The Company’s outstanding debt was as follows: September 30, 2023 Aggregate Amount Carrying Truist Revolving Credit Facility (1) $ 775,000 $ 536,314 $ 238,537 BNPP Revolving Credit Facility (2) 200,000 200,000 — Total debt $ 975,000 $ 736,314 $ 238,537 (1) Provides, under certain circumstances, a total borrowing capacity of $ 1,500,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 178,000 , in CAD of CAD 60,685 and in Euro of € 15,000 . (2) Provides, under certain circumstances, a total borrowing capacity of $ 1,000,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 0 . |
Truist Revolving Credit Facility | |
Debt Instrument [Line Items] | |
Schedule of Revolving Credit Facility | The below table presents the summary information of the Truist Revolving Credit Facility: For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Borrowing interest expense $ 1,371 $ 2,847 Facility fees 670 1,260 Amortization of financing costs 310 593 Total $ 2,351 $ 4,700 Weighted average interest rate * 7.46 % 7.27 % Average outstanding balance * $ 72,872 $ 80,281 * Weighted average interest rate and average outstanding debt balance was calculated beginning on April 6, 2023, the date on which the Company entered into the Truist Revolving Credit Facility. |
BNPP Revolving Credit Facility | |
Debt Instrument [Line Items] | |
Schedule of Revolving Credit Facility | The below table presents the summary information of the BNPP Revolving Credit Facility: For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Borrowing interest expense $ — $ — Facility fees — — Amortization of financing costs 3 3 Total $ 3 $ 3 Weighted average interest rate * — — Average outstanding balance * $ — $ — * Weighted average interest rate and average outstanding debt balance was calculated beginning on September 28, 2023, the date on which the Company entered into the BNPP Revolving Credit Facility. |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Unfunded Commitments by Investment Types | The Company had the following unfunded commitments by investment types: Unfunded Commitment Balances (1) September 30, 2023 1st Lien/Senior Secured Debt Arrow Buyer, Inc. (dba Archer Technologies) $ 2,037 Bamboo US BidCo LLC (aka Baxter) 8,561 Circustrix Holdings, LLC (dba SkyZone) 4,818 Coretrust Purchasing Group LLC 11,052 Crewline Buyer, Inc. (dba New Relic) 72,313 CST Buyer Company (dba Intoxalock) 4,310 DFS Holding Company, Inc. 5,492 Frontgrade Technologies Holdings Inc. 3,689 Fullsteam Operations LLC 24,362 Groundworks, LLC 1,609 Highfive Dental Holdco, LLC 6,857 Hyland Software, Inc. 4,525 iCIMS, Inc. 10,139 iWave Information Systems, Inc. 2,391 Recochem, Inc 71,949 Recorded Books Inc. (dba RBMedia) 2,691 Rubrik, Inc. 10,744 Singlewire Software, LLC 3,226 Solaris (dba Urology Management Holdings, Inc.) 7,437 Superior Environmental Solutions 2,298 Trader Corporation 3,430 VASA Fitness Buyer, Inc. 3,047 Total 1st Lien/Senior Secured Debt $ 266,977 1st Lien/Last-Out Unitranche Thor FinanceCo LLC (dba Harmoni Towers) $ 28,333 Towerco IV Holdings, LLC 10,055 Total 1st Lien/Last-Out Unitranche $ 38,388 2nd Lien/Senior Secured Debt AWP Group Holdings, Inc. $ 4,546 Total 2nd Lien/Senior Secured Debt $ 4,546 Total $ 309,911 (1) Unfunded commitments denominated in currencies other than USD have been converted to USD using the exchange rate as of the applicable reporting date. |
Net Assets (Tables)
Net Assets (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Assets [Abstract] | |
Schedule of Shares Issued and Proceeds Related to Offering | The following table summarizes the total Shares issued and proceeds related to the Offering: Share Issue Date Shares Issued Proceeds Received For the nine months ended September 30, 2023 April 6, 2023 10,081,173 $ 252,029 May 1, 2023 3,019,897 75,891 June 1, 2023 5,708,842 143,577 July 1, 2023 7,434,246 187,492 August 1, 2023 9,176,536 231,524 September 1, 2023 7,062,817 177,983 Total 42,483,511 $ 1,068,496 |
Schedule of Distributions Declared on Shares and Shares Distributed Pursuant to the DRIP to Stockholders | The following table summarizes the distributions declared on the Shares and Shares distributed pursuant to the DRIP to stockholders who had not opted out of the DRIP: Date Declared Record Date Payment Date Amount Per Share Shares For the nine months ended September 30, 2023 April 26, 2023 April 28, 2023 May 30, 2023 $ 0.17 26,481 May 3, 2023 May 31, 2023 June 28, 2023 $ 0.21 40,267 May 3, 2023 June 30, 2023 July 28, 2023 $ 0.21 62,222 May 3, 2023 July 31, 2023 August 29, 2023 $ 0.21 93,814 August 2, 2023 August 31, 2023 September 28, 2023 $ 0.21 141,357 August 2, 2023 September 29, 2023 October 30, 2023 $ 0.21 174,596 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Earnings Per Share | The following information sets forth the computation of basic and diluted earnings per Share: For the Three Months Ended For the Nine Months Ended September 30, 2023 September 30, 2023 Net increase in net assets from operations $ 22,762 $ 34,057 Weighted average shares outstanding 34,868,960 24,905,773 Basic and diluted earnings (loss) per share $ 0.65 $ 1.37 |
Financial Highlights (Tables)
Financial Highlights (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Statement of Financial Position [Abstract] | |
Schedule of Financial Highlights of the Company | The below table presents the schedule of financial highlights of the Company: For the Nine Months Ended September 30, 2023 Per Common Share Data: (1) NAV, beginning of period $ 25.00 Net investment income 1.24 Net realized and unrealized gains (losses) (2) 0.21 Net increase in net assets from operations (2) $ 1.45 Distributions to common shareholders ( 1.22 ) Distributions to preferred shareholders — (3) Total increase in net assets $ 0.23 NAV, end of period $ 25.23 Shares outstanding, end of period 42,847,652 Weighted average shares outstanding 24,905,773 Total return based on NAV (4) 5.92 % Supplemental Data/Ratio (5) : Net assets, end of period $ 1,081,208 Ratio of net expenses to average net assets 3.52 % Ratio of expenses (without incentive fees and interest and other debt expenses) to average net assets 1.40 % Ratio of interest and other debt expenses to average net assets 1.54 % Ratio of incentive fees to average net assets 0.58 % Ratio of total expenses to average net assets 5.18 % Ratio of net investment income to average net assets 8.77 % Portfolio turnover 1 % (1) The per share data was derived by using the weighted average Shares outstanding during the applicable period that the Shares were outstanding, except for distributions declared, which reflects the actual amount per Share for the applicable period. (2) The amount shown may not correspond for the period as it includes the effect of the timing of Share issuances and distributions. (3) Amount rounds to less than $0.01. (4) Calculated as the change in NAV per share during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s DRIP. (5) Ratios are annualized, except for, as applicable, fee waivers, expense support, reimbursable expenses previously borne by Investment Adviser, unvested Incentive Fees, organization costs and Series A Preferred Stock redemption premium. NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity. |
Organization - Additional Infor
Organization - Additional Information (Details) - $ / shares | Apr. 06, 2023 | Sep. 30, 2023 | Dec. 31, 2022 |
Subsidiary, Sale of Stock [Line Items] | |||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 |
Initial issuance price per share | 25 | ||
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Accredited Investors Offering | |||
Subsidiary, Sale of Stock [Line Items] | |||
Preferred stock, dividend rate | 12% | ||
Preferred stock, par value | $ 0.001 |
Significant Accounting Polici_4
Significant Accounting Policies - Schedule of Interest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Accounting Policies [Abstract] | ||
Accelerated amortization of upfront loan origination fees and unamortized discounts | $ 35 | $ 60 |
Significant Accounting Polici_5
Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Significant Accounting Policy [Line Items] | ||
Cash | $ 102,262 | $ 1 |
Foreign currency | ||
Significant Accounting Policy [Line Items] | ||
Cash | 2,411 | 0 |
Acquisition costs | $ 2,425 | $ 0 |
Significant Agreements and Re_3
Significant Agreements and Related Party Transactions - Additional Information (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2023 USD ($) | Aug. 31, 2023 USD ($) | Jul. 31, 2023 USD ($) | Jun. 30, 2023 USD ($) | Apr. 30, 2023 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) Component | Dec. 31, 2022 USD ($) | ||
Related Party Transaction [Line Items] | |||||||||||
Management fee percentage per month | 0.001042 | ||||||||||
Annual management fee percentage | 1.25% | ||||||||||
Management fees | $ 2,680,000 | $ 3,726,000 | |||||||||
Investment adviser voluntary agreed waive of management fees | 2,680,000 | 3,726,000 | |||||||||
Management fees payable | $ 0 | 0 | $ 0 | ||||||||
Number of components included in incentive fees | Component | 2 | ||||||||||
Hurdle rate for incentive fee purpose | 1.25% | 5% | |||||||||
Incentive fee if no excess income amount | $ 0 | ||||||||||
Pencentage of quarterly inflection | 1.43% | ||||||||||
Pencentage of annual inflection | 5.72% | ||||||||||
Percentage of income considered for incentive if that exceeds amount | 12.50% | ||||||||||
Percentage of ordinary income considered for incentive If that exceeds hurdle amount | 100% | ||||||||||
Incentive fees based on income | 2,296,000 | $ 3,086,000 | |||||||||
Incentive fees based on capital gains | 92,000 | 392,000 | |||||||||
Investment adviser contractually waived incentive fee based on income | $ 2,296,000 | $ 3,086,000 | |||||||||
Affiliates of the Investment Adviser | 100% | ||||||||||
Percentage of common stock outstanding owned by affiliates | 10.10% | 10.10% | 10.10% | ||||||||
Percentage of incentive fee if capital gains positive | 12.50% | ||||||||||
Incurred expenses for services provided by administrator and custodian fees | $ 233,000 | $ 0 | $ 0 | $ 316,000 | |||||||
Administration and custodian fees payable | $ 194,000 | 194,000 | 194,000 | ||||||||
Percentage of transfer agent fees | 0.05% | ||||||||||
Incurred expenses for services provided by transfer agent | 97,000 | 0 | 0 | 154,000 | |||||||
Transfer agent fees payable | 97,000 | 97,000 | 97,000 | ||||||||
Costs related to Directors and Officers Liability Insurance, and directors fees | 85,000 | 81,000 | 133,000 | 245,000 | |||||||
Expense Payments by Adviser | 157,000 | $ 273,000 | $ 722,000 | $ 315,000 | $ 1,552,000 | 1,152,000 | 3,019,000 | ||||
Reimbursable expenses previously borne by Investment Adviser | 0 | 1,512,000 | |||||||||
Payments made by Investment Adviser | 0 | $ 305,000 | $ 724,000 | 528,000 | |||||||
Net Assets Value | [1] | 1,081,208,000 | 1,081,208,000 | 1,081,208,000 | |||||||
Investment Management Agreement | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Incentive fees based on capital gains | 92,000 | 392,000 | |||||||||
Related Party | Accrued Expenses And Other Liabilities | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Due to Affiliate | 2,266,000 | 2,266,000 | 2,266,000 | $ 0 | |||||||
Related Party | Interest and Other Debt Expense Payable | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Due to Affiliate | 143,000 | 143,000 | 143,000 | $ 0 | |||||||
Director | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Costs related to Directors and Officers Liability Insurance, and directors fees | $ 50,000 | ||||||||||
Annual fee description | Each of the Company’s independent directors is compensated an annual fee of $50,000 (or $100,000 upon the Company’s NAV being at or above $1,500,000,000) for his or her services as one of the Company’s directors and as a member of the Audit Committee and Governance and Nominating Committee. | ||||||||||
Director | Minimum | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Net Assets Value | 1,500,000,000 | 1,500,000,000 | $ 1,500,000,000 | ||||||||
Director | Maximum | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Costs related to Directors and Officers Liability Insurance, and directors fees | $ 100,000 | ||||||||||
Chairperson | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Annual fee description | The Chairperson receives an additional annual fee of $12,500 (or $25,000 upon the Company’s NAV being at or above $1,500,000,000) for his services in such capacity | ||||||||||
Additional annual fee | 12,500 | 12,500 | $ 12,500 | ||||||||
Chairperson | Minimum | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Net Assets Value | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | ||||||||
Chairperson | Maximum | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Costs related to Directors and Officers Liability Insurance, and directors fees | $ 25,000 | ||||||||||
Audit Committee Financial Expert | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Annual fee description | the director designated as “audit committee financial expert” receives an additional annual fee of $7,500 (or $15,000 upon the Company’s NAV being at or above $1,500,000,000) for his services in such capacity. | ||||||||||
Annual Fee by Audit committee financial expert | 7,500 | 7,500 | $ 7,500 | ||||||||
Audit Committee Financial Expert | Minimum | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Net Assets Value | $ 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | ||||||||
Audit Committee Financial Expert | Maximum | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Costs related to Directors and Officers Liability Insurance, and directors fees | 15,000 | ||||||||||
Investment Adviser | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Incentive fees based on income | $ 2,296,000 | $ 3,086,000 | |||||||||
[1] Ratios are annualized, except for, as applicable, fee waivers, expense support, reimbursable expenses previously borne by Investment Adviser, unvested Incentive Fees, organization costs and Series A Preferred Stock redemption premium. NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity. |
Significant Agreements and Re_4
Significant Agreements and Related Party Transactions - Schedule of Affiliated Investments (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 USD ($) | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | $ 1,197,616 | |
Investment, Identifier [Axis]: 1st Lien/Last-Out Unitranche | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 54,405 | [1],[2] |
Investment, Identifier [Axis]: 2nd Lien/Senior Secured Debt | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 20,000 | [1] |
Investment, Identifier [Axis]: First Lien/Senior Secured Debt | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,123,211 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (12) - 5.03% Thor FinanceCo LLC (dba Harmoni Towers) Industry Wireless Telecommunication Services Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 08/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 46,083 | [1],[2],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (12) - 5.03% Thor FinanceCo LLC (dba Harmoni Towers) Industry Wireless Telecommunication Services Reference Rate and Spread S + 7.00% Maturity 08/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (354) | [1],[2],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Last-Out Unitranche (12) - 5.03% Towerco IV Holdings, LLC Industry Wireless Telecommunication Services Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 8,676 | [1],[2],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% ADS Tactical, Inc. Industry Aerospace & Defense Reference Rate and Spread S + 5.75% Maturity 03/19/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,276 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AI Aqua Merger Sub, Inc. Industry Household Durables Interest Rate 9.08% Reference Rate and Spread S + 3.75% Maturity 07/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 320 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AL GCX Holdings, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.50% Maturity 05/17/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,133 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AL NGPL Holdings, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.75% Maturity 04/13/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,970 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Acrisure, LLC Industry Insurance Interest Rate 8.93% Reference Rate and Spread L + 3.50% Maturity 02/15/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,601 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ahead DB Holdings, LLC Industry Technology Hardware & Equipment Interest Rate 9.24% Reference Rate and Spread S + 3.75% Maturity 10/18/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,234 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Albaugh, LLC Industry Chemicals Reference Rate and Spread S + 3.75% Maturity 04/06/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,632 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AlixPartners, LLP Industry Commercial Services & Supplies Reference Rate and Spread S + 2.75% Maturity 02/04/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,638 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AllSpring Buyer, LLC Industry Diversified Financial Services Reference Rate and Spread S + 3.25% Maturity 11/01/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,676 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Alliant Holdings Intermediate, LLC Industry Insurance Reference Rate and Spread L + 3.50% Maturity 11/05/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,635 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Allied Universal Holdco LLC Industry Commercial Services & Supplies Interest Rate 9.17% Reference Rate and Spread S + 3.75% Maturity 05/12/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,068 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Altar Bidco, Inc. Industry Semiconductors & Semiconductor Equipment Reference Rate and Spread S + 3.10% Maturity 02/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,315 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Alterra Mountain Company Industry Leisure Products Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 08/17/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,068 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Amentum Government Services Holdings LLC Industry Technology Hardware & Equipment Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 01/29/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,062 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% American Builders & Contractors Supply Co., Inc. Industry Distributors Interest Rate7.42% Reference Rate and Spread S + 2.00% Maturity 01/15/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,855 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ankura Consulting Group, LLC Industry Commercial Services & Supplies Interest Rate 9.93% Reference Rate and Spread S + 4.50% Maturity 03/17/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 470 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arcis Golf, LLC Industry Leisure Products Interest Rate 9.68% Reference Rate and Spread S + 4.25% Maturity 11/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 224 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Interest Rate 11.90% Reference Rate and Spread S + 6.50% Maturity 06/28/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 8,649 | [1],[3],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arrow Buyer, Inc. (dba Archer Technologies) Industry Software Reference Rate and Spread S + 6.50% Maturity 06/28/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (41) | [1],[3],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Arsenal AIC Parent LLC Industry Metals & Mining Interest Rate 9.88% Reference Rate and Spread S + 4.50% Maturity 08/18/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,321 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ascend Performance Materials Operations, LLC Industry Chemicals Interest Rate 10.32% Reference Rate and Spread S + 4.75% Maturity 08/27/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,896 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% AssuredPartners, Inc. Industry Insurance Reference Rate and Spread S + 3.50% Maturity 02/12/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,633 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Asurion LLC Industry Insurance Interest Rate 9.67% Reference Rate and Spread S + 4.25% Maturity 08/19/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 460 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Autokiniton US Holdings, Inc. Industry Automobile Components Reference Rate and Spread S + 4.50% Maturity 04/06/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,096 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% BBB Industries LLC Industry Automobile Components Interest Rate10.67% Reference Rate and Spread S + 5.25% Maturity 07/25/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,009 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% BCPE Empire Holdings, Inc. Industry Distributors Interest Rate 10.07% Reference Rate and Spread S + 4.75% Maturity 12/11/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 448 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Interest Rate 11.32% Reference Rate and Spread S + 6.00% Maturity 09/30/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 22,779 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Interest Rate 9.86% Reference Rate and Spread E + 6.00% Maturity 09/30/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 14,984 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Reference Rate and Spread S + 6.00% Maturity 09/30/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (55) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bamboo US BidCo LLC (aka Baxter) Industry Pharmaceuticals Reference Rate and Spread S + 6.00% Maturity 10/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (147) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Banff Merger Sub Inc Industry Software Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 10/02/25 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 672 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Bangl, LLC Industry Energy Equipment & Services Reference Rate and Spread S + 4.50% Maturity 02/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,065 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Barracuda Networks, Inc. Industry IT Services Interest Rate 9.87% Reference Rate and Spread S + 4.50% Maturity 08/15/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,121 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Brookfield WEC Holdings, Inc. Industry Machinery Interest Rate 8.18% Reference Rate and Spread S+ 2.75% Maturity 08/01/25 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,639 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Brown Group Holding, LLC Industry Construction & Engineering Interest Rate 9.12% Reference Rate and Spread S + 3.75% Maturity 07/02/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,638 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Buckeye Partners, L.P. Industry Oil, Gas & Consumable Fuels Interest Rate 7.67% Reference Rate and Spread S + 2.25% Maturity 11/01/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,754 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CCI Buyer, Inc. Industry Telecommunications Reference Rate and Spread S + 4.00% Maturity 12/17/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,450 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CMG Media Corporation Industry Media Interest Rate 8.99% Reference Rate and Spread S + 3.50% Maturity 12/17/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 432 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CNT Holdings I Corp. Industry IT Services Reference Rate and Spread S + 3.50% Maturity 11/08/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,135 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CQP Holdco LP. Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.50% Maturity 06/05/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,642 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CST Buyer Company (dba Intoxalock) Industry Diversified Consumer Services Interest Rate 11.92% Reference Rate and Spread S + 6.50% Maturity 11/01/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 44,553 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% CST Buyer Company (dba Intoxalock) Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 11/01/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (75) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Calpine Corporation Industry Electric Utilities Reference Rate and Spread S + 2.00% Maturity 08/12/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,756 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Canister International Group, Inc. Industry Containers & Packaging Reference Rate and Spread S + 4.75% Maturity 12/21/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,649 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Chamberlain Group Inc. Industry Building Products Interest Rate 8.67% Reference Rate and Spread S + 3.25% Maturity 11/03/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,109 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Charter NEX US, Inc. Industry Containers & Packaging Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 12/01/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,632 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Chobani, LLC Industry Food Products Reference Rate and Spread S + 3.50% Maturity 10/25/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,320 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Circustrix Holdings, (dba SkyZone) Industry Leisure Equipment & Products Interest Rate 12.08% Reference Rate and Spread S + 6.75% Maturity 07/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 24,426 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Circustrix Holdings, LLC (dba SkyZone) Industry Leisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (40) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Circustrix Holdings, LLC (dba SkyZone) IndustryLeisure Equipment & Products Reference Rate and Spread S + 6.75% Maturity 07/18/28 One | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (40) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Citadel Securities LP Industry Diversified Financial Services Interest Rate 7.82% Reference Rate and Spread S + 2.50% Maturity 07/29/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,851 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Clarios Global LP Industry Automobile Components Interest Rate 9.07% Reference Rate and Spread S + 3.75% Maturity 05/06/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,022 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Clydesdale Acquisition Holdings, Inc. Industry Containers & Packaging Reference Rate and Spread S + 4.18% Maturity 04/13/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,603 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Computer Services, Inc. Industry Diversified Financial Services Interest Rate 12.16% Reference Rate and Spread S + 6.75% Maturity 11/15/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 48,755 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% ConnectWise, LLC. Industry Software Reference Rate and Spread S + 3.50% Maturity 09/29/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,298 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Conservice Midco, LLC. Industry Commercial Services & Supplies Reference Rate and Spread S + 4.25% Maturity 05/13/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,641 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Coretrust Purchasing Group LLC. Industry Diversified Financial Services Interest Rate 12.07% Reference Rate and Spread S + 6.75% Maturity 10/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 37,004 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Coretrust Purchasing Group LLC. Industry Diversified Financial Services Reference Rate and Spread S + 6.75% Maturity 10/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (97) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Coretrust Purchasing Group LLC. Industry Diversified Financial Services Reference Rate and Spread S + 6.75% Maturity 10/01/29 One | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (97) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Cornerstone Building Brands, Inc. Industry Building Products Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 04/12/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,796 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Covanta Holding Corporation Industry Commercial Services & Supplies Interest Rate 8.33% Reference Rate and Spread S + 3.00% Maturity 11/30/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 139 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Covanta Holding Corporation Industry Commercial Services & Supplies Interest Rate 8.33% Reference Rate and Spread S + 3.00% Maturity 11/30/28 One | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 10 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Covetrus, Inc. Industry Pharmaceuticals Interest Rate 10.39% Reference Rate and Spread S + 5.00% Maturity 10/13/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 468 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Crosby US Acquisition Corp. Industry Machinery Interest Rate 10.17% Reference Rate and Spread S + 4.75% Maturity 06/26/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 472 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Cyanco Intermediate 2 Corp. Industry Chemicals Reference Rate and Spread S + 4.75% Maturity 07/10/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,651 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 39,542 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DFS Holding Company, Inc. Industry Distributors Interest Rate 12.42% Reference Rate and Spread S + 7.00% Maturity 01/31/29 One | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,788 | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DG Investment Intermediate Holdings 2, Inc. Industry Construction & Engineering Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,614 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DRW Holdings, LLC Industry Diversified Financial Services Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/01/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,886 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Da Vinci Purchaser Corp. Industry Health Care Providers & Services Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 01/08/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 936 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Dealer Tire Financial, LLC Industry Distributors Reference Rate and Spread S + 4.50 Maturity 12/14/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,322 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% DexKo Global Inc. Industry Automobile Components Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 10/04/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,796 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Edelman Financial Center, LLC Industry Diversified Financial Services Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 04/07/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,119 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Electron BidCo, Inc. Industry Health Care Providers & Services Reference Rate and Spread S + 3.00% Maturity 11/01/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,629 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Energize HoldCo, LLC Industry Construction & Engineering Reference Rate and Spread S + 3.75% Maturity 12/08/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,604 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Engineered Machinery Holdings, Inc. Industry Machinery Interest Rate 9.15% Reference Rate and Spread L + 3.50% Maturity 05/19/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 222 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fanatics Commerce Intermediate Holdco, LLC Industry Textiles, Apparel & Luxury Goods Reference Rate and Spread S + 3.25% Maturity 11/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,747 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% First Advantage Holdings, LLC Industry Software Reference Rate and Spread S + 2.75% Maturity 01/31/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,649 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% First Brands Group, LLC Industry Automobile Components Reference Rate and Spread S + 5.00% Maturity 03/30/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,056 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fleet U.S. Bidco, Inc. Industry Commercial Services & Supplies Reference Rate and Spread L + 3.00% Maturity 10/07/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,639 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Flexera Software LLC Industry Software Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/03/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 667 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Fluid-Flow Products, Inc. Industry Distributors Interest Rate 9.86% Reference Rate and Spread S + 3.75% Maturity 03/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 443 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Foundation Building Materials Holding Company, LLC Industry Specialty Retail Reference Rate and Spread S + 3.25% Maturity 01/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,612 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Franklin Square Holdings, L.P. Industry Diversified Financial Services Interest Rate 7.67% Reference Rate and Spread S + 2.25% Maturity 08/01/25 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,858 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Froneri International Ltd. Industry Food Products Interest Rate 7.67% Reference Rate and Spread S + 2.25% Maturity 01/29/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,126 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Frontgrade Technologies Holdings Inc. Industry Aerospace & Defense Interest Rate 12.14% Reference Rate and Spread S + 6.75% Maturity 01/09/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 34,770 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Frontgrade Technologies Holdings Inc. Industry Aerospace & Defense Reference Rate and Spread S + 6.75% Maturity 01/09/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (74) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% GHX Ultimate Parent Corporation Industry Health Care Providers & Services Interest Rate 10.12% Reference Rate and Spread S + 4.75% Maturity 06/30/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 847 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Gainwell Acquisition Corp. Industry Pharmaceuticals Interest Rate 9.49% Reference Rate and Spread S + 4.00% Maturity 10/01/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,089 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Getty Images, Inc. Industry IT Services Interest Rate 9.99% Reference Rate and Spread S + 4.50% Maturity 02/19/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,138 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Groundworks, LLC Industry Diversified Consumer Services Interest Rate 11.81% Reference Rate and Spread S + 6.50% Maturity 03/14/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 8,838 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 03/14/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (22) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Groundworks, LLC Industry Diversified Consumer Services Reference Rate and Spread S + 6.50% Maturity 3/14/2029 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (10) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% HUB International Limited Industry Insurance Interest Rate 9.37% Reference Rate and Spread S + 4.00% Maturity 11/10/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,146 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Harbor Freight Tools USA, Inc. Industry Specialty Retail Reference Rate and Spread S + 2.75% Maturity 10/19/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,623 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Heartland Dental, LLC Industry Diversified Consumer Services Interest Rate 10.33% Reference Rate and Spread S + 5.00% Maturity 04/28/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 24,647 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Interest Rate 12.45% Reference Rate and Spread S + 6.75% Maturity 06/13/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 8,573 | [1],[3],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (25) | [1],[3],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highfive Dental Holdco, LLC Industry Health Care Providers & Services Reference Rate and Spread S + 6.75% Maturity 06/13/28 One | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (147) | [1],[3],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Highline Aftermarket Acquisition, LLC Industry Specialty Retail Interest Rate 9.92% Reference Rate and Spread S + 4.50% Maturity 11/09/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 666 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Hyland Software, Inc. Industry Software Interest Rate 11.32% Reference Rate and Spread S + 6.00% Maturity 09/19/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 94,043 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Hyland Software, Inc. Industry Software Reference Rate and Spread S + 6.00% Maturity 09/19/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (68) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% INEOS Enterprises Holdings US Finco, LLC Industry Chemicals Reference Rate and Spread S + 3.75% Maturity 07/08/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,627 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% INEOS Styrolution US Holding LLC Industry Chemicals Interest Rate 8.18% Reference Rate and Spread S + 2.75% Maturity 01/29/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,197 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% IRB Holding Corp. Industry Consumer Staples Distribution & Retail Interest Rate 8.42% Reference Rate and Spread S + 3.00% Maturity 12/15/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,637 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% ITT Holdings LLC Industry Oil, Gas & Consumable Fuels Interest Rate 8.18% Reference Rate and Spread S + 2.75% Maturity 07/10/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,691 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Icebox Holdco III, Inc. Industry Building Products Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 12/22/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 470 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Illuminate Buyer, LLC Industry Chemicals Reference Rate and Spread S + 3.50% Maturity 06/30/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,633 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ingram Micro, Inc. Industry IT Services Interest Rate 8.65% Reference Rate and Spread S + 3.00% Maturity 06/30/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,099 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Innophos, Inc. Industry Chemicals Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 02/05/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 445 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% KKR Apple Bidco, LLC Industry Construction & Engineering Reference Rate and Spread S + 2.75% Maturity 09/22/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,126 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Kenan Advantage Group, Inc. Industry Ground Transportation Interest Rate 9.48% Reference Rate and Spread S + 3.75% Maturity 03/24/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 942 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% LABL, Inc. Industry Containers & Packaging Interest Rate 10.42% Reference Rate and Spread S + 5.00% Maturity 10/29/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 373 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% LCG Vardiman Black, LLC (dba Specialty Dental Brands) Industry Health Care Providers & Services Interest Rate 12.43% Reference Rate and Spread S + 7.00% Maturity 03/18/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 24,129 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% LSF11 A5 Holdco, LLC Industry Chemicals Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 10/15/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,288 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% M6 ETX Holdings II Midco, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 4.50% Maturity 09/19/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,315 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% MH Sub I, LLC Industry IT Services Interest Rate 9.57% Reference Rate and Spread S + 4.25% Maturity 05/03/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 217 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Mavis Tire Express Services Corp. Industry Commercial Services & Supplies Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 05/04/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,185 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% McAfee, LLC Industry Technology Hardware & Equipment Interest Rate 9.18% Reference Rate and Spread S + 3.75% Maturity 03/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 876 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Medallion Midland Acquisition, LLC Industry Oil, Gas & Consumable Fuels Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 10/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,645 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Mediaocean LLC Industry Software Interest Rate 8.92% Reference Rate and Spread S + 3.50% Maturity 12/15/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 906 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Medline Borrower, LP Industry Health Care Equipment & Supplies Reference Rate and Spread S + 3.25% Maturity 10/23/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,950 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% NFP Corp. Industry Diversified Financial Services Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 02/16/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 467 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% OneDigital Borrower, LLC Industry Insurance Interest Rate 9.66% Reference Rate and Spread S + 4.25% Maturity 11/16/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,069 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Ortholite, LLC Industry Textiles, Apparel & Luxury Goods Interest Rate 11.65% Reference Rate and Spread S + 6.25% Maturity 09/29/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 44,509 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Oryx Midstream Services Permian Basin, LLC Industry Oil, Gas & Consumable Fuels Reference Rate and Spread S + 3.25% Maturity 10/05/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,786 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Oscar AcquisitionCo, LLC Industry Building Products Reference Rate and Spread S + 4.50% Maturity 04/29/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,830 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Oxbow Carbon LLC Industry Oil, Gas & Consumable Fuels Interest Rate 9.45% Reference Rate and Spread S + 4.00% Maturity 05/10/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,070 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% PCI Gaming Authority Industry Entertainment Interest Rate 7.93% Reference Rate and Spread S + 2.50% Maturity 05/29/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,768 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Peraton Corp. Industry Technology Hardware & Equipment Reference Rate and Spread S + 3.75% Maturity 02/01/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,626 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Physician Partners LLC Industry Software Interest Rate 9.42% Reference Rate and Spread S + 4.00% Maturity 12/23/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,035 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Pike Corporation Industry Electric Utilities Interest Rate 8.82% Reference Rate and Spread S + 3.50% Maturity 01/21/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 224 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Potters Industries, LLC Industry Building Products Reference Rate and Spread S + 4.00% Maturity 12/14/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,649 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Presidio Holdings Inc. Industry Technology Hardware & Equipment Interest Rate 8.97% Reference Rate and Spread S + 3.50% Maturity 01/22/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,318 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Pro Mach Group, Inc. Industry Machinery Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 474 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Proampac PG Borrower LLC Industry Containers & Packaging Interest Rate 9.30% Reference Rate and Spread S + 3.75% Maturity 11/03/25 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 471 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Project Alpha Intermediate Holding, Inc. Industry Software Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 04/26/24 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 224 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Project Boost Purchaser, LLC Industry Software Interest Rate 8.93% Reference Rate and Spread S + 3.50% Maturity 06/01/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,347 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Propulsion (BC) Finco S.a.r.l. Industry Aerospace & Defense Reference Rate and Spread S + 3.75% Maturity 09/14/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,636 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Quartz Acquireco, LLC Industry Software Interest Rate 8.82% Reference Rate and Spread S + 3.50% Maturity 06/28/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,322 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Quikrete Holdings, Inc. Industry Building Products Reference Rate and Spread S + 2.75% Maturity 03/19/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,163 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 09/03/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 75,442 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Recorded Books Inc. (dba RBMedia) Industry Media Interest Rate 11.66% Reference Rate and Spread S + 6.25% Maturity 08/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,415 | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% RegionalCare Hospital Partners Holdings, Inc. Industry Health Care Providers & Services Interest Rate 9.38% Reference Rate and Spread S + 3.75% Maturity 11/16/25 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 888 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Renaissance Holding Corp. Industry Software Interest Rate 9.99% Reference Rate and Spread S + 4.75% Maturity 04/05/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 22,295 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Reynolds Consumer Products LLC Industry Household Durables Reference Rate and Spread S + 1.75% Maturity 02/04/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,727 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Reynolds Group Holdings, Inc. Industry Containers & Packaging Reference Rate and Spread S + 3.25% Maturity 09/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,956 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Rockwood Service Corporation Industry Construction & Engineering Reference Rate and Spread S + 4.00% Maturity 01/23/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,648 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Rubrik,Inc. Industry Software Interest Rate 12.37% Reference Rate and Spread S + 7.00% Maturity 08/17/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,088 | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Rubrik,Inc. Industry Software Interest Rate 12.53% Reference Rate and Spread S + 7.00% Maturity 08/17/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 84,659 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% SRAM, LLC Industry Leisure Products Interest Rate 8.18% Reference Rate and Spread S + 2.75% Maturity 05/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,067 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Sedgwick Claims Management Services, Inc. Industry Insurance Reference Rate and Spread S + 3.75% Maturity 02/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,635 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Singlewire Software, LLC Industry Software Interest Rate 11.64% Reference Rate and Spread S + 6.25% Maturity 05/10/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 21,177 | [1],[3],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Singlewire Software, LLC Industry Software Reference Rate and Spread S + 6.25% Maturity 05/10/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (81) | [1],[3],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Solaris (dba Urology Management Holdings, Inc.) Industry Health Care Providers & Services Interest Rate 11.79% Reference Rate and Spread S + 6.25% Maturity 06/15/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 14,393 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Solaris (dba Urology Management Holdings, Inc.) Industry Health Care Providers & Services Reference Rate and Spread S + 6.25% Maturity 06/15/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (186) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Sorenson Communications, LLC Industry Telecommunications Interest Rate 10.93% Reference Rate and Spread S + 5.50% Maturity 03/17/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,993 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.04% Reference Rate and Spread S + 6.50% Maturity 07/25/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,940 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Spotless Brands, LLC Industry Diversified Consumer Services Interest Rate 12.30% Reference Rate and Spread S + 6.75% Maturity 07/25/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 31,869 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Standard Industries, Inc. Industry Building Products Reference Rate and Spread S + 2.50% Maturity 09/22/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,749 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Summit Behavioral Healthcare, LLC Industry Health Care Providers & Services Interest Rate 10.43% Reference Rate and Spread S + 4.75% Maturity 11/24/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 223 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.87% Reference Rate and Spread S + 6.50% Maturity 08/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 287 | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Superior Environmental Solutions Industry Commercial Services & Supplies Interest Rate 11.92% Reference Rate and Spread S + 6.50% Maturity 08/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 10,186 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Superior Environmental Solutions Industry Commercial Services & Supplies Reference Rate and Spread S + 6.50% Maturity 08/01/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (20) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Syncapay Inc Industry Diversified Financial Services Reference Rate and Spread S + 6.50% Maturity 12/10/27 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 944 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Thevelia (US), LLC Industry Commercial Services & Supplies Reference Rate and Spread S + 4.00% Maturity 06/18/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 446 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Trader Corporation Industry Automobiles Interest Rate 12.13% Reference Rate and Spread C + 6.75% Maturity 12/21/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 44,705 | [1],[6],[7] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Trader Corporation Industry Automobiles Reference Rate and Spread C + 6.75% Maturity 12/22/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (60) | [1],[4],[6],[7] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% TricorBraun Holdings, Inc. Industry Containers & Packaging Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 03/03/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 219 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Truck Hero, Inc. Industry Automobile Components Reference Rate and Spread S + 3.75% Maturity 01/31/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 642 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% USI, Inc. Industry Insurance Reference Rate and Spread S + 3.75% Maturity 11/22/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,319 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% VASA Fitness Buyer, Inc. Industry Consumer Retail Interest Rate 13.31% Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 14,707 | [1],[3] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (15) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% VASA Fitness Buyer, Inc. Industry Consumer Retail Reference Rate and Spread S + 7.50% (Incl. 0.38% PIK) Maturity 08/14/28 One | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (46) | [1],[3],[4] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Vaco Holdings, LLC Industry Commercial Services & Supplies Reference Rate and Spread S + 5.00% Maturity 01/21/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,052 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Vector WP Holdco, Inc. Industry Building Products Interest Rate 10.43% Reference Rate and Spread S + 5.00% Maturity 10/12/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 590 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Verscend Holding Corp. Industry Commercial Services & Supplies Interest Rate 9.43% Reference Rate and Spread S + 4.00% Maturity 08/27/25 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,141 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Virgin Media Bristol, LLC Industry Media Interest Rate 8.70% Reference Rate and Spread S + 3.25% Maturity 01/31/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,652 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Virtusa Corporation Industry Technology Hardware & Equipment Reference Rate and Spread S + 3.75% Maturity 02/15/29 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 2,622 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% W.R. Grace & Co.-Conn. Industry Chemicals Interest Rate 9.40% Reference Rate and Spread S + 3.75% Maturity 09/22/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 469 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Wand NewCo 3, Inc. Industry Commercial Services & Supplies Interest Rate 8.17% Reference Rate and Spread S + 2.75% Maturity 02/05/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 944 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Windsor Holdings III, LLC Industry Distributors Interest Rate 9.83% Reference Rate and Spread S + 4.50% Maturity 08/01/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 672 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% World Wide Technology Holding Co., LLC Industry Technology Hardware & Equipment Interest Rate 8.68% Reference Rate and Spread S + 3.25% Maturity 03/01/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 3,859 | [1] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% Zelis Healthcare Corporation Industry Software Reference Rate and Spread S + 3.50% Maturity 09/30/26 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,320 | [1],[5] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Interest Rate 12.14% Reference Rate and Spread S + 6.75% Maturity 08/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 413 | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Interest Rate 12.63% Reference Rate and Spread S + 7.25% (Incl. 3.88% PIK) Maturity 08/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 32,097 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Interest Rate 12.63% Reference Rate and Spread S + 7.25% Maturity 08/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 5,910 | [1],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iCIMS, Inc. Industry Professional Services Reference Rate and Spread S + 6.75% Maturity 08/18/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (247) | [1],[4],[6] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iWave Information Systems, Inc. Industry Software Interest Rate 12.29% Reference Rate and Spread S + 6.75% Maturity 11/23/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 18,975 | [1],[6],[7] |
Investment, Identifier [Axis]: Investment 1st Lien/Senior Secured Debt - 103.88% iWave Information Systems, Inc. Industry Software Reference Rate and Spread S + 6.75% Maturity 11/23/28 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (60) | [1],[4],[6],[7] |
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 1.85% AWP Group Holdings, Inc. Industry Commercial Services & Supplies Interest Rate 14.22% Reference Rate and Spread S + 8.75% Maturity 12/23/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 4,455 | [1],[3] |
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 1.85% AWP Group Holdings, Inc. Industry Commercial Services & Supplies Interest Rate 14.24% Reference Rate and Spread S + 8.75% Maturity 12/23/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 15,591 | [1] |
Investment, Identifier [Axis]: Investment 2nd Lien/Senior Secured Debt 1.85% AWP Group Holdings, Inc. Industry Commercial Services & Supplies Reference Rate and Spread S + 8.75% Maturity 12/23/30 | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | (46) | [1],[4] |
Investment, Identifier [Axis]: Investments - 110.76% | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,197,616 | [1] |
Investment, Identifier [Axis]: Investments and Investments in Affiliated Money Market Fund - 118.13% | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 1,277,290 | [1] |
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 79,674 | [1] |
Investment, Identifier [Axis]: Investments in Affiliated Money Market Fund - 7.37% Goldman Sachs Financial Square Government Fund - Institutional Shares | ||
Schedule of Investments [Line Items] | ||
Ending Fair Value Balance | 79,674 | [1],[8],[9] |
From Non-controlled Affiliated Investments | ||
Schedule of Investments [Line Items] | ||
Gross Additions | 1,161,620 | |
Gross Reductions | (1,081,946) | |
Ending Fair Value Balance | 79,674 | |
Interest Income Operating | 2,738 | |
Dividend, Interest and Other Income | 2,738 | |
Goldman Sachs Financial Square Government Fund | From Non-controlled Affiliated Investments | ||
Schedule of Investments [Line Items] | ||
Gross Additions | 1,161,620 | |
Gross Reductions | (1,081,946) | |
Ending Fair Value Balance | 79,674 | |
Interest Income Operating | 2,738 | |
Dividend, Interest and Other Income | $ 2,738 | |
[1] Assets are pledged as collateral for the Revolving Credit Facilities (as defined below). See Note 6 “Debt”. In exchange for the greater risk of loss, the “last-out” portion of the Company's unitranche loan investment generally earns a higher interest rate than the “first-out” portions. The “first-out” portion would generally receive priority with respect to payment of principal, interest and any other amounts due thereunder over the “last-out” portion. Represents co-investments made in accordance with the terms of the exemptive relief received from the U.S. Securities and Exchange Commission. See Note 3 “Significant Agreements and Related Party Transactions”. Position or portion thereof is an unfunded loan commitment, and no interest is being earned on the unfunded portion. The unfunded loan commitment may be subject to a commitment termination date that may expire prior to the maturity date stated. The negative cost, if applicable, is the result of the capitalized discount being greater than the principal amount outstanding on the loan. The negative fair value, if applicable, is the result of the capitalized discount on the loan. See Note 7 “Commitments and Contingencies”. Position or portion thereof unsettled as of September 30, 2023. Interest rate associated with this purchase is not known prior to the settlement date. The fair value of the investment was determined using significant unobservable inputs. See Note 5 “Fair Value Measurement”. The investment is not a qualifying asset under Section 55(a) of the Investment Company Act of 1940, as amended (the “Investment Company Act”). The Company may not acquire any non-qualifying asset unless, at the time of acquisition, qualifying assets represent at least 70 % of the Company’s total assets. As of September 30, 2023, the aggregate fair value of these non-qualifying securities is $ 63,560 or 4.56 % of the Company’s total assets. The annualized seven-day yield as of September 30, 2023 is 5.24 %. The investment is otherwise deemed to be an “affiliated person” of the Company. See Note 3 “Significant Agreements and Related Party Transactions”. |
Significant Agreements and Re_5
Significant Agreements and Related Party Transactions - Schedule of Expense Payments and Related Reimbursement Payments (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 | Aug. 31, 2023 | Jul. 31, 2023 | Jun. 30, 2023 | Apr. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |||||||
Expense Payments by Adviser | $ 157 | $ 273 | $ 722 | $ 315 | $ 1,552 | $ 1,152 | $ 3,019 |
Unreimbursed Expense Payments | $ 157 | $ 273 | $ 722 | $ 315 | $ 1,552 | $ 3,019 |
Investments - Schedule of Inves
Investments - Schedule of Investments Excluding Investments in Money Market Funds (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Schedule of Investments [Line Items] | |
Cost | $ 1,197,315 |
Fair Value | 1,197,616 |
1st Lien/Senior Secured Debt | |
Schedule of Investments [Line Items] | |
Cost | 1,122,890 |
Fair Value | 1,123,211 |
1st Lien/Last-Out Unitranche | |
Schedule of Investments [Line Items] | |
Cost | 54,419 |
Fair Value | 54,405 |
2nd Lien/Senior Secured Debt | |
Schedule of Investments [Line Items] | |
Cost | 20,006 |
Fair Value | $ 20,000 |
Investments - Schedule of Inv_2
Investments - Schedule of Investments as a Percentage of Fair Value and Net Assets (Details) | 9 Months Ended |
Sep. 30, 2023 | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 110.80% |
Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 100% |
Software | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 24.30% |
Software | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 22% |
Diversified Consumer Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 10.60% |
Diversified Consumer Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 9.60% |
Diversified Financial Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 9.60% |
Diversified Financial Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 8.60% |
Media | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 7.80% |
Media | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 7% |
Wireless Telecommunication Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 5% |
Wireless Telecommunication Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 4.50% |
Health Care Providers & Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 4.80% |
Health Care Providers & Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 4.40% |
Textiles, Apparel & Luxury Goods | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 4.60% |
Textiles, Apparel & Luxury Goods | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 4.10% |
Distributors | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 4.50% |
Distributors | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 4.10% |
Commercial Services Supplies | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 4.50% |
Commercial Services Supplies | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 4.10% |
Automobiles | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 4.10% |
Automobiles | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 3.70% |
Pharmaceuticals | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 3.70% |
Pharmaceuticals | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 3.30% |
Aerospace and Defense | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 3.60% |
Aerospace and Defense | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 3.20% |
Professional Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 3.50% |
Professional Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 3.20% |
Leisure Equipment & Products | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 2.30% |
Leisure Equipment & Products | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 2% |
Oil, Gas & Consumable Fuels | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 2% |
Oil, Gas & Consumable Fuels | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1.80% |
Chemicals | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 2% |
Chemicals | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1.80% |
Building Products | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1.60% |
Building Products | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1.40% |
Technology Hardware & Equipment | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1.40% |
Technology Hardware & Equipment | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1.30% |
Insurance | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1.40% |
Insurance | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1.30% |
Consumer Retail | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1.40% |
Consumer Retail | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1.20% |
Containers and Packaging | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1.10% |
Containers and Packaging | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1% |
Construction & Engineering | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1.10% |
Construction & Engineering | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 1% |
IT Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 1% |
IT Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.90% |
Automobile Components | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.70% |
Automobile Components | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.60% |
Specialty Retail | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.50% |
Specialty Retail | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.50% |
Household Durables | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.50% |
Household Durables | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.40% |
Electric Utilities | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.50% |
Electric Utilities | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.40% |
Entertainment | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.40% |
Entertainment | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.40% |
Health Care Equipment & Supplies | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.40% |
Health Care Equipment & Supplies | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.30% |
Machinery | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.40% |
Machinery | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.30% |
Food Products | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.30% |
Food Products | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.30% |
Telecommunication | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.30% |
Telecommunication | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.30% |
Leisure Products | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.20% |
Leisure Products | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.20% |
Consumer Staples Distribution & Retail | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.20% |
Consumer Staples Distribution & Retail | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.20% |
Metals & Mining | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.20% |
Metals & Mining | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.20% |
Semiconductors and Semiconductor Equipment | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.10% |
Semiconductors and Semiconductor Equipment | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.20% |
Energy Equipment & Services | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.10% |
Energy Equipment & Services | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.10% |
Ground Transportation | |
Schedule of Investments [Line Items] | |
Investment owned, percent of net assets | 0.10% |
Ground Transportation | Investments at Fair Value | Industry Concentration Risk | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 0.10% |
Investments - Schedule of Geogr
Investments - Schedule of Geographic Composition of Investments at Fair Value (Details) - Investments at Fair Value - Industry Concentration Risk | 9 Months Ended |
Sep. 30, 2023 | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 100% |
United States | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 94.70% |
Canada | |
Schedule of Investments [Line Items] | |
Composition of investments, percentage | 5.30% |
Fair Value Measurement - Summar
Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Details) $ in Thousands | Sep. 30, 2023 USD ($) | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 1,197,616 | |
1st Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 1,123,211 | |
Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 895,357 | |
Level 3 | 1st Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 820,952 | |
Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 430,858 | [1] |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Minimum | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.106 | [2] |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Maximum | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.153 | [2] |
Bank Loans, Corporate Debt and Other Debt Obligations | Level 3 | Valuation Technique, Discounted Cash Flow | Measurement Input, Discount Rate | 1st Lien/Senior Secured Debt | Weighted Average | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt Investments, Range of Significant Unobservable Inputs | 0.114 | [3] |
[1] As of September 30, 2023, included within Level 3 assets of $ 895,357 is an amount of $ 464,499 for which the Investment Adviser did not develop the unobservable inputs (examples include single source broker quotations, third party pricing, and prior transactions). The income approach was used in the determination of fair value for $ 430,858 or 48.1 % of Level 3 bank loans, corporate debt, and other debt obligations. The range for an asset category consisting of a single investment, if any, is not meaningful and therefore has been excluded. Weighted average for an asset category consisting of multiple investments is calculated by weighting the significant unobservable input by the relative fair value of the investment. Weighted average for an asset category consisting of a single investment represents the significant unobservable input used in the fair value of the investment. |
Fair Value Measurement - Summ_2
Fair Value Measurement - Summary of Ranges of Significant Unobservable Inputs Used to Value Level 3 Assets (Parenthetical) (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 1,197,616,000 | |
Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | 895,357,000 | |
Income Approach | Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 430,858,000 | |
Fair value of debt investments percentage using income approach | 48.10% | |
Investment Adviser did not Develop Unobservable Inputs | Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Debt investments, Fair Value | $ 464,499,000 | $ 0 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Apr. 10, 2023 | Sep. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 1,197,616,000 | $ 1,197,616,000 | ||
Warehouse transaction | $ 2,617,000 | 0 | 2,617,000 | |
Level 3 | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | 895,357,000 | 895,357,000 | ||
Level 3 | Purchase Agreements | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 0 | |||
Level 3 | Investment Adviser did not Develop Unobservable Inputs | ||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||
Fair Value | $ 464,499,000 | $ 464,499,000 | $ 0 |
Fair Value Measurement - Summ_3
Fair Value Measurement - Summary of Assets Categorized Within Fair Value Hierarchy (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | $ 1,197,616 |
1st Lien/Senior Secured Debt | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 1,123,211 |
1st Lien/Last-Out Unitranche | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 54,405 |
2nd Lien/Senior Secured Debt | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 20,000 |
Investments in Affiliated Money Market Fund | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 79,674 |
Money market funds | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 1,277,290 |
Level 1 | Investments in Affiliated Money Market Fund | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 79,674 |
Level 1 | Money market funds | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 79,674 |
Level 2 | 1st Lien/Senior Secured Debt | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 302,259 |
Level 2 | Money market funds | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 302,259 |
Level 3 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 895,357 |
Level 3 | 1st Lien/Senior Secured Debt | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 820,952 |
Level 3 | 1st Lien/Last-Out Unitranche | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 54,405 |
Level 3 | 2nd Lien/Senior Secured Debt | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | 20,000 |
Level 3 | Money market funds | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |
Debt investments, Fair Value | $ 895,357 |
Fair Value Measurement - Summ_4
Fair Value Measurement - Summary of Changes in Fair Value of Level 3 Assets By Investment Type (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 USD ($) | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | $ (1,268) | |
1st Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (1,248) | |
1st Lien/Last-Out Unitranche | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (14) | |
2nd Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Net Change in Unrealized Appreciation (Depreciation) for assets still held | (6) | |
Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Purchases | 898,406 | [1] |
Net Realized Gain (Loss) | 2 | |
Net Change in Unrealized Appreciation (Depreciation) | (1,268) | |
Sales and Settlements | (2,773) | [1] |
Net Amortization of Premium/Discount | 990 | |
Ending Balance | 895,357 | |
Level 3 | 1st Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Purchases | 824,002 | [1] |
Net Realized Gain (Loss) | 2 | |
Net Change in Unrealized Appreciation (Depreciation) | (1,248) | |
Sales and Settlements | (2,773) | [1] |
Net Amortization of Premium/Discount | 969 | |
Ending Balance | 820,952 | |
Level 3 | 1st Lien/Last-Out Unitranche | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Purchases | 54,404 | [1] |
Net Change in Unrealized Appreciation (Depreciation) | (14) | |
Net Amortization of Premium/Discount | 15 | |
Ending Balance | 54,405 | |
Level 3 | 2nd Lien/Senior Secured Debt | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Purchases | 20,000 | [1] |
Net Change in Unrealized Appreciation (Depreciation) | (6) | |
Net Amortization of Premium/Discount | 6 | |
Ending Balance | $ 20,000 | |
[1] Purchases may include PIK, securities received in corporate actions and restructurings. Sales and Settlements may include securities delivered in corporate actions and restructuring of investments. |
Debt - Additional Information (
Debt - Additional Information (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 28, 2023 | Aug. 09, 2023 | |||||
Line of Credit Facility [Line Items] | ||||||||||
Aggregate Borrowing Amount Committed | $ 975,000 | $ 975,000 | $ 975,000 | |||||||
Deferred financing costs | $ 6,826 | $ 6,826 | $ 6,826 | |||||||
Debt [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Weighted average interest rates | 7.27% | |||||||||
Average outstanding balance | $ 80,281 | |||||||||
Asset Coverage Ratio Requirement Description | Investment Company Act, is at least 150% after such borrowing (if certain requirements are met). As of September 30, 2023, the Company’s asset coverage ratio based on the aggregate amount outstanding of senior securities was 553%. | |||||||||
Debt instrument asset coverage ratio | 553% | 553% | 553% | |||||||
Truist Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Weighted average interest rates | [1] | 7.46% | 7.27% | |||||||
Average outstanding balance | [1] | $ 72,872 | $ 80,281 | |||||||
Aggregate Borrowing Amount Committed | [2] | $ 775,000 | 775,000 | $ 775,000 | ||||||
Maximum borrowing capacity | $ 1,500,000 | |||||||||
Revolving credit facility interest rate description | Borrowings thereunder denominated in USD, including amounts drawn in respect of letters of credit, bear interest (at the Company’s election) of either (i) term SOFR plus a margin of either 2.00% or 1.75% (subject to certain gross borrowing base conditions), plus an additional 0.10% credit adjustment spread, (ii) an alternate base rate, which is the highest of (x) Prime Rate in effect on such day, (y) Federal Funds Effective Rate for such day plus 1/2 of 1.00% and (z) term SOFR for an interest period of one (1) month plus 1.00%, plus a margin of either 1.00% or 0.75% (subject to certain gross borrowing base conditions). Borrowings thereunder denominated in non-USD bear interest of the applicable term benchmark rate or daily simple risk-free rate plus a margin of either 2.00% or 1.75% (subject to certain gross borrowing base conditions), plus, in the case of borrowings denominated in Pound Sterling (GBP) only, an additional 0.0326% credit adjustment spread or 0.1193% credit adjustment spread, for 1-month tenor and 3-months tenor borrowings, respectively. With respect to borrowings denominated in USD, the Company may elect either term SOFR or an alternative base rate at the time of borrowing, and such borrowings may be converted from one benchmark to another at any time, subject to certain conditions. | |||||||||
Cost incurred in obtaining revolving credit facility | 6,222 | 6,222 | $ 6,222 | |||||||
Deferred financing costs | $ 5,629 | $ 5,629 | $ 5,629 | |||||||
Applicable margin after expiration of reinvestment period | 0.0326% | 0.1193% | 0.10% | |||||||
Truist Revolving Credit Facility | Debt [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum borrowing capacity | $ 1,500,000 | $ 1,500,000 | $ 1,500,000 | |||||||
Truist Revolving Credit Facility | Multicurrency Sub-Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum borrowing capacity | 650,000 | 650,000 | 650,000 | |||||||
Truist Revolving Credit Facility | USD Sub Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum borrowing capacity | 125,000 | $ 125,000 | $ 125,000 | |||||||
BNPP Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Weighted average interest rates | [3] | 0% | 0% | |||||||
Average outstanding balance | [3] | $ 0 | $ 0 | |||||||
Aggregate Borrowing Amount Committed | 200,000 | [4] | 200,000 | [4] | 200,000 | [4] | $ 200,000 | |||
Maximum borrowing capacity | $ 1,000,000 | |||||||||
Cost incurred in obtaining revolving credit facility | 1,200 | 1,200 | 1,200 | |||||||
Deferred financing costs | 1,197 | 1,197 | 1,197 | |||||||
BNPP Revolving Credit Facility | Debt [Member] | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum borrowing capacity | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||||||
BNPP Revolving Credit Facility | SOFR | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Applicable margin for interst rate annum | 1.80% | |||||||||
Applicable margin after expiration of reinvestment period | 2.80% | |||||||||
Minimum | Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Debt instrument asset coverage ratio | 150% | 150% | 150% | |||||||
Minimum | Truist Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Asset coverage ratio with respect to consolidated assets | 0.01 | 0.01 | 0.01 | |||||||
Maximum | Truist Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Asset coverage ratio with respect to consolidated assets | 0.015 | 0.015 | 0.015 | |||||||
[1] * Weighted average interest rate and average outstanding debt balance was calculated beginning on April 6, 2023, the date on which the Company entered into the Truist Revolving Credit Facility. Provides, under certain circumstances, a total borrowing capacity of $ 1,500,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 178,000 , in CAD of CAD 60,685 and in Euro of € 15,000 . * Weighted average interest rate and average outstanding debt balance was calculated beginning on September 28, 2023, the date on which the Company entered into the BNPP Revolving Credit Facility. Provides, under certain circumstances, a total borrowing capacity of $ 1,000,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 0 . |
Debt - Schedule of Outstanding
Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Sep. 28, 2023 | ||
Line of Credit Facility [Line Items] | ||||
Aggregate Borrowing Amount Committed | $ 975,000 | |||
Amount Available | 736,314 | |||
Carrying Value | 238,537 | |||
Truist Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Aggregate Borrowing Amount Committed | [1] | 775,000 | ||
Amount Available | [1] | 536,314 | ||
Carrying Value | [1] | 238,537 | ||
BNPP Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Aggregate Borrowing Amount Committed | 200,000 | [2] | $ 200,000 | |
Amount Available | [2] | $ 200,000 | ||
[1] Provides, under certain circumstances, a total borrowing capacity of $ 1,500,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 178,000 , in CAD of CAD 60,685 and in Euro of € 15,000 . Provides, under certain circumstances, a total borrowing capacity of $ 1,000,000 . The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of September 30, 2023, the Company had outstanding borrowings denominated in USD of $ 0 . |
Debt - Schedule of Outstandin_2
Debt - Schedule of Outstanding Debt (Parenthetical) (Details) € in Thousands, $ in Thousands, $ in Thousands | Sep. 30, 2023 USD ($) | Sep. 30, 2023 CAD ($) | Sep. 30, 2023 EUR (€) | Sep. 28, 2023 USD ($) | Aug. 09, 2023 USD ($) |
Truist Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 1,500,000 | ||||
Truist Revolving Credit Facility [Member] | Debt | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 1,500,000 | ||||
Outstanding borrowings | 178,000 | $ 60,685 | € 15,000 | ||
BNPP Revolving Credit Facility | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 1,000,000 | ||||
BNPP Revolving Credit Facility | Debt | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 1,000,000 | ||||
Outstanding borrowings | $ 0 |
Debt - Schedule of Revolving Cr
Debt - Schedule of Revolving Credit Facility (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2023 | ||
Line of Credit Facility [Line Items] | |||
Amortization of financing costs | $ 596 | ||
Truist Revolving Credit Facility | |||
Line of Credit Facility [Line Items] | |||
Borrowing interest expense | $ 1,371 | 2,847 | |
Facility fees | 670 | 1,260 | |
Amortization of financing costs | 310 | 593 | |
Total | $ 2,351 | $ 4,700 | |
Weighted average interest rate | [1] | 7.46% | 7.27% |
Average outstanding balance | [1] | $ 72,872 | $ 80,281 |
BNPP Revolving Credit Facility | |||
Line of Credit Facility [Line Items] | |||
Borrowing interest expense | 0 | 0 | |
Facility fees | 0 | 0 | |
Amortization of financing costs | 3 | 3 | |
Total | $ 3 | $ 3 | |
Weighted average interest rate | [2] | 0% | 0% |
Average outstanding balance | [2] | $ 0 | $ 0 |
[1] * Weighted average interest rate and average outstanding debt balance was calculated beginning on April 6, 2023, the date on which the Company entered into the Truist Revolving Credit Facility. * Weighted average interest rate and average outstanding debt balance was calculated beginning on September 28, 2023, the date on which the Company entered into the BNPP Revolving Credit Facility. |
Commitments and Contingencies -
Commitments and Contingencies - Schedule of Unfunded Commitments by Investment Types (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | $ 309,911 |
1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 266,977 |
1st Lien/Last-Out Unitranche | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 38,388 |
2nd Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 4,546 |
Arrow Buyer, Inc. (dba Archer Technologies) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 2,037 |
Bamboo US BidCo LLC (aka Baxter) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 8,561 |
Circustrix Holdings, LLC (dba SkyZone) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 4,818 |
Coretrust Purchasing Group LLC | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 11,052 |
Crewline Buyer, Inc. (dba New Relic) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 72,313 |
CST Buyer Company (dba Intoxalock) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 4,310 |
DFS Holding Company, Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 5,492 |
Frontgrade Technologies Holdings Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 3,689 |
Fullsteam Operations Llc | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 24,362 |
Groundworks, LLC | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 1,609 |
Highfive Dental Holdco, LLC | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 6,857 |
Hyland Software, Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 4,525 |
iCIMS, Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 10,139 |
iWave Information Systems, Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 2,391 |
Recochem, Inc | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 71,949 |
Recorded Books Inc. (dba RBMedia) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 2,691 |
Rubrik,Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 10,744 |
Singlewire Software, LLC | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 3,226 |
Solaris (dba Urology Management Holdings, Inc.) | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 7,437 |
Superior Environmental Solutions | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 2,298 |
Trader Corporation | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 3,430 |
VASA Fitness Buyer, Inc. | 1st Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 3,047 |
Thor FinanceCo LLC (dba Harmoni Towers) | 1st Lien/Last-Out Unitranche | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 28,333 |
Towerco IV Holdings, LLC | 1st Lien/Last-Out Unitranche | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | 10,055 |
AWP Group Holdings, Inc. | 2nd Lien/Senior Secured Debt | |
Loss Contingencies [Line Items] | |
Unfunded Commitment Balances | $ 4,546 |
Commitments and Contingencies_2
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | Dec. 31, 2022 | |
Loss Contingencies [Line Items] | |||||
Costs related to Directors and Officers Liability Insurance, and directors fees | $ 85 | $ 81 | $ 133 | $ 245 | |
Aggregate amount of expenses been borne by investment adviser | $ 985 | ||||
Offering costs by investment adviser | $ 577 | $ 1,042 | |||
Directors and Officers Liability Insurance [Member] | |||||
Loss Contingencies [Line Items] | |||||
Offering expenses incurred | $ 1,059 |
Net Assets - Additional Informa
Net Assets - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Apr. 06, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | 1,000,000,000 | |||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized | 1,000,000 | 1,000,000 | 1,000,000 | |||
Preferred stock, per share | $ 0.001 | $ 0.001 | $ 0.001 | |||
Shares Issued | 0 | 0 | 42,483,511 | |||
Preferred stock, shares issued | 0 | 0 | 0 | |||
Proceeds from sale of preferred stock, net | $ 515,000 | |||||
Monthly redemptions, percent of net asset value, maximum | 5% | |||||
Percent of most recently disclosed net asset value | 98% | |||||
Holding period | 1 year | |||||
Share repurchases | $ 0 | |||||
Common Class D [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | ||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||
Common Class S [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 | ||||
Common stock, par value | $ 0.001 | $ 0.001 | ||||
Series A Preferred Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Preferred stock, shares issued | 515 | |||||
Preferred Stock, No Par Value | $ 1,000 | |||||
Proceeds from sale of preferred stock, net | $ 515,000 | |||||
Preferred stock, liquidation preference per share | $ 1,000 | |||||
Preferred stock liquidation preference rate | 12% |
Net Assets - Schedule of Shares
Net Assets - Schedule of Shares Issued and Proceeds Related to Offering (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended |
Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | |
Class of Stock [Line Items] | |||
Shares Issued | 0 | 0 | 42,483,511 |
Proceeds Received | $ 1,068,496 | ||
April 6, 2023 | |||
Class of Stock [Line Items] | |||
Shares Issued | 10,081,173 | ||
Proceeds Received | $ 252,029 | ||
May 1, 2023 | |||
Class of Stock [Line Items] | |||
Shares Issued | 3,019,897 | ||
Proceeds Received | $ 75,891 | ||
June 1, 2023 | |||
Class of Stock [Line Items] | |||
Shares Issued | 5,708,842 | ||
Proceeds Received | $ 143,577 | ||
July 1, 2023 | |||
Class of Stock [Line Items] | |||
Shares Issued | 7,434,246 | ||
Proceeds Received | $ 187,492 | ||
August 1, 2023 | |||
Class of Stock [Line Items] | |||
Shares Issued | 9,176,536 | ||
Proceeds Received | $ 231,524 | ||
September 1, 2023 | |||
Class of Stock [Line Items] | |||
Shares Issued | 7,062,817 | ||
Proceeds Received | $ 177,983 |
Net Assets - Schedule of Distri
Net Assets - Schedule of Distributions Declared on Shares and Shares Distributed Pursuant to the DRIP to Stockholders (Details) | 9 Months Ended |
Sep. 30, 2023 $ / shares shares | |
April 26, 2023 | |
Class of Stock [Line Items] | |
Date Declared | Apr. 26, 2023 |
Record Date | Apr. 28, 2023 |
Payment Date | May 30, 2023 |
Amount Per Share | $ / shares | $ 0.17 |
Shares | shares | 26,481 |
May 3, 2023 | |
Class of Stock [Line Items] | |
Date Declared | May 03, 2023 |
Record Date | May 31, 2023 |
Payment Date | Jun. 28, 2023 |
Amount Per Share | $ / shares | $ 0.21 |
Shares | shares | 40,267 |
June 30, 2023 | |
Class of Stock [Line Items] | |
Date Declared | May 03, 2023 |
Record Date | Jun. 30, 2023 |
Payment Date | Jul. 28, 2023 |
Amount Per Share | $ / shares | $ 0.21 |
Shares | shares | 62,222 |
July 31, 2023 | |
Class of Stock [Line Items] | |
Date Declared | May 03, 2023 |
Record Date | Jul. 31, 2023 |
Payment Date | Aug. 29, 2023 |
Amount Per Share | $ / shares | $ 0.21 |
Shares | shares | 93,814 |
August 31, 2023 | |
Class of Stock [Line Items] | |
Date Declared | Aug. 02, 2023 |
Record Date | Aug. 31, 2023 |
Payment Date | Sep. 28, 2023 |
Amount Per Share | $ / shares | $ 0.21 |
Shares | shares | 141,357 |
September 29, 2023 | |
Class of Stock [Line Items] | |
Date Declared | Aug. 02, 2023 |
Record Date | Sep. 29, 2023 |
Payment Date | Oct. 30, 2023 |
Amount Per Share | $ / shares | $ 0.21 |
Shares | shares | 174,596 |
Earnings Per Common Share - Sch
Earnings Per Common Share - Schedule of Basic and Diluted Earning Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | |
Earnings per Share Basic and Diluted [Line Items] | ||
Net increase in net assets from operations | $ 22,762 | $ 34,057 |
Common Class I | ||
Earnings per Share Basic and Diluted [Line Items] | ||
Net increase in net assets from operations | $ 22,762 | $ 34,057 |
Weighted average shares outstanding, basic | 34,868,960 | 24,905,773 |
Weighted average shares outstanding, diluted | 34,868,960 | 24,905,773 |
Basic earnings (loss) per share | $ 0.65 | $ 1.37 |
Diluted earnings (loss) per share | $ 0.65 | $ 1.37 |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Details) | Sep. 30, 2022 shares |
Earnings Per Share [Abstract] | |
Shares outstanding | 0 |
Financial Highlights - Schedule
Financial Highlights - Schedule of Financial Highlights of the Company (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |||
Sep. 30, 2023 | Dec. 31, 2022 | |||
Per Common Share Data: | ||||
NAV, beginning of period | $ 25 | |||
NAV, end of period | $ 25.23 | |||
Shares outstanding, end of period | 42,847,652 | [1] | 40 | |
Weighted average shares outstanding | [1] | 24,905,773 | ||
Total return based on NAV | [1],[2] | 5.92% | ||
Supplemental Data/Ratio: | ||||
Net assets, end of period | [3] | $ 1,081,208 | ||
Ratio of net expenses to average net assets | [3] | 3.52% | ||
Ratio of expenses (without incentive fees and interest and other debt expenses) to average net assets | [3] | 1.40% | ||
Ratio of interest and other debt expenses to average net assets | [3] | 1.54% | ||
Ratio of incentive fees to average net assets | [3] | 0.58% | ||
Ratio of total expenses to average net assets | [3] | 5.18% | ||
Ratio of net investment income to average net assets | [3] | 8.77% | ||
Portfolio turnover | [3] | 1% | ||
Common Class I [Member] | ||||
Per Common Share Data: | ||||
NAV, beginning of period | [1] | $ 25 | ||
Net investment income | [1] | 1.24 | ||
Net realized and unrealized gains (losses) | [1],[4] | 0.21 | ||
Net increase in net assets from operations | [1],[4] | 1.45 | ||
Distributions to common shareholders | [1] | (1.22) | ||
Total increase in net assets | [1] | 0.23 | ||
NAV, end of period | [1] | $ 25.23 | ||
[1] The per share data was derived by using the weighted average Shares outstanding during the applicable period that the Shares were outstanding, except for distributions declared, which reflects the actual amount per Share for the applicable period. Calculated as the change in NAV per share during the respective periods, assuming dividends and distributions, if any, are reinvested in accordance with the Company’s DRIP. Ratios are annualized, except for, as applicable, fee waivers, expense support, reimbursable expenses previously borne by Investment Adviser, unvested Incentive Fees, organization costs and Series A Preferred Stock redemption premium. NAV used in ratios represents NAV to common shareholders and excludes preferred shareholders’ equity. The amount shown may not correspond for the period as it includes the effect of the timing of Share issuances and distributions. |
Financial Highlights - Addition
Financial Highlights - Additional Information (Details) | Sep. 30, 2022 shares |
Statement of Financial Position [Abstract] | |
Shares outstanding | 0 |
Warehouse Transaction - Additio
Warehouse Transaction - Additional Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Apr. 10, 2023 USD ($) | Apr. 10, 2023 CAD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2023 USD ($) | Aug. 25, 2022 USD ($) | |
Assets [Abstract] | |||||
Warehousing Transactions Stock Issuance Threshold | $ 200,000,000 | ||||
Amount acquired through portfolio investment | $ 407,004,000 | $ 66,771 | |||
Warehouse transaction | $ 2,617,000 | $ 0 | $ 2,617,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Nov. 30, 2023 | Nov. 01, 2023 | Oct. 01, 2023 | Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2023 | |
Subsequent Event [Line Items] | ||||||
Issuance of shares | 0 | 0 | 42,483,511 | |||
Scenario forecast | ||||||
Subsequent Event [Line Items] | ||||||
Preferred stock, dividend rate | 12% | |||||
Subsequent Events | ||||||
Subsequent Event [Line Items] | ||||||
Proceeds from issuance of Common Shares | $ 167,298 | $ 137,495 | ||||
Issuance of shares | 5,449,648 | |||||
Aforementioned proceeds from issuance of Common Shares | $ 37,812 | $ 8,550 |